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Should Micron (MU -3.9%) succeed in acquiring Elpida, as is rumored, the DRAM industry will have...
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Tuesday, May 8, 2012, 12:00 PM ETShould Micron (MU -3.9%) succeed in acquiring Elpida, as is rumored, the DRAM industry will have largely consolidated around 3 vendors: Samsung (SSNLF.PK - 44% share), Micron (23% share), and Hynix (HXSCF.PK - also 23%). Sterne Agee thinks the Street is worried about the deal's price and Micron's financing needs. However, the firm values Elpida's assets at $7B+, far above Micron's reported $2.5B+ offer.
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Intel has the money and the need for Intel/Micron developed DRAM Hybrid Memory Cubes to make their server efforts even more valuable.
http://bit.ly/IVEuqU
The other entity is the world's largest user of nand flash and Solid State Drives. Guess who.
With Elpida in hand, I think Micron turns into an independent memory joint venture that primarily serves the needs of the two giant participants.
Micron shareholders will get about $15 per share.