MICRON TECHNOLOGY, INC. (NASDAQ:MU) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02.
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Termination of a Material Definitive Agreement.
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agreements were terminated:
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Joint Venture Agreement, dated January 17, 2013, by and
among Micron Semiconductor B.V., Numonyx Holdings B.V., Micron Technology Asia Pacific, Inc., Nanya and Inotera. The Joint Venture Agreement governed the rights and obligations of the parties in connection with their ownership of shares of Inotera, including the respective rights to appoint the members of the Board of Directors of Inotera. The Joint Venture Agreement also contained certain restrictions on the transfer and acquisition of shares of Inotera and certain buy/sell arrangements. |
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Facilitation Agreement, dated January 17, 2013, by and
among Micron Semiconductor B.V., Numonyx Holdings B.V., Micron Technology Asia Pacific, Inc., Nanya and Inotera. The Facilitation Agreement required Inotera to take certain actions to effectuate the intent of the parties under the Joint Venture Agreement with respect to, among other things, the nomination of executive officers. |
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Item 2.01.
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Completion of Acquisition or Disposition of Assets.
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Swap Agreement. Buyer paid approximately $4.0 billion, net of
cash and debt at Inotera, to acquire the Inotera shares not
already owned by Micron, funded from (i) the proceeds from the
sale on December 2, 2016, of 57,780,138 shares of Micron Common
Stock to Nanya to the Share Purchase Agreement for approximately
$1 billion, (ii) borrowing under a syndicated loan agreement with
various Taiwanese banks of approximately $2.5 billion and (iii)
cash on hand.
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Item 8.01.
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Other Events.
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closing of the Inotera Acquisition. A copy of the press release
is attached as Exhibit 99.1 hereto.
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Item 9.01.
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Financial Statements and Exhibits.
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(d) Exhibits.
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Exhibit No.
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Description
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99.1
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Press release issued on December 6, 2016.
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About MICRON TECHNOLOGY, INC. (NASDAQ:MU)
Micron Technology, Inc. is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets. MICRON TECHNOLOGY, INC. (NASDAQ:MU) Recent Trading Information
MICRON TECHNOLOGY, INC. (NASDAQ:MU) closed its last trading session up +0.45 at 19.06 with 26,635,463 shares trading hands.
