Micron Technology Inc. said its planned deal to buy the share of Taiwan’s Inotera Memories Inc. it doesn’t already own is being delayed.
The deal to buy the remaining 67% stake for $4.1 billion was announced in December and expected to close in July. Wednesday, Micron said that both parties had determined that closing on that deadline wasn’t possible.
The company will issue an update on the deal later this year.
Micron didn’t provide a reason for why the closing was delayed.
Micron, based in Boise, Idaho, is the last remaining U.S. maker of the chips called dynamic random access memories, or DRAMs, used in personal computer, smartphones and many other devices. The company has often boosted its production capacity by acquiring other manufacturers that exit the fiercely competitive market.
Inotera, founded in 2003, was formed as a joint venture of Nanya and Infineon Technologies AG. Micron in 2008 acquired the stake originally held by Infineon.
Micron currently buys all of Inotera’s output, which accounts for about 35% of Micron’s DRAM production. The company said the new deal enables Micron to realize the full financial and operational benefit of Inotera’s business.
Shares of Micron, which are up 22% in the last three months, rose 0.2% in premarket trading.
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