Benefits of Micron's (MU) Deal to Acquire Remaining Stake in Inotera Seen as Slightly Puzzling, Says Analyst

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Go back to Benefits of Micron's (MU) Deal to Acquire Remaining Stake in Inotera Seen as Slightly Puzzling, Says Analyst

Micron's (MU) Inotera Deal is an Expensive Use of Equity - Needham & Company

December 15, 2015 7:46 AM EST

Needham & Company analyst, Rajvindra Gill, is questioning why Micron (NYSE: MU) would use equity to pay for a transaction that seems to only offer accounting benefits when the stock is trading near 3 year lows. Considering that DRAM ASPs have declined for each of the last 3 quarters, the upside appears limited. No change to Hold rating.

Micron announced an agreement to acquire Inoteras remaining shares for NT$30 per share, or a 30% premium to yesterdays close of NT$23. Micron... More

Micron Technology (MU) to Report 1Q on 12/22; Mizuho Securities Remains Neutral

December 15, 2015 6:53 AM EST

Mizuho Securities maintained a Neutral rating on Micron Technology (NASDAQ: MU), and cut the price target to $15.00 (from $18.00), ahead of the company's 1Q earnings report. MU will report its Q1 results (Nov) on Dec 22 after the market close. While MU announced a key Inotera... More

Micron Technology (MU) to Acquire Remaining Inotera Memories Shares in $3.2B Deal

December 14, 2015 6:19 AM EST

Micron Technology, Inc. (Nasdaq: MU) and Inotera Memories announced the signing of an agreement for Micron to acquire Inoteras remaining shares for consideration worth 30 New Taiwan Dollars per share or approximately $0.92 USD per share. Micron currently owns approximately 33 percent of Inotera. This represents a transaction value of approximately $3.2 billion, net of cash and debt at Inotera, to acquire the remaining equity.

We believe this is a compelling combination for both companies shareholders and employees, said Micron CEO Mark Durcan. The acquisition is the culmination of a highly successful seven year partnership with Inotera.... More