SAN FRANCISCO—U.S. regulators won't hold up Micron Technology Inc.'s proposed $2.5 billion acquisition of bankrupt Japanese DRAM vendor Elpida Memory Inc., but other hurdles to closing the deal remain, Micron said Tuesday (Sept. 11).
Micron (Boise, Idaho) said the waiting period to move forward with the acquisition under the Hart-Scott-Rodino Act expired without issue. The law requires a waiting period of 30 days.
Micron said the transaction—first announced in July—remains subject to other conditions, including approval by Elpida creditors, the Tokyo District Court and regulatory approvals from others countries. Micron expects to complete the deal in the first half of 2013.
One group of Elpida's bondholders continues to oppose the transaction, saying it undervalues Elpida's assets. The group has proposed an alternative plan.