| | | This is a pretty good summary of the main points of the Micron-Intel IMFT deal:
BRIEF-Micron Announces Intent To Acquire Remaining Interest In IM Flash Technologies Joint Venture
October 18, 2018
05:11 PM ET
Reuters
* MICRON ANNOUNCES INTENT TO ACQUIRE REMAINING INTEREST IN IM FLASH TECHNOLOGIES JOINT VENTURE
* MICRON TECHNOLOGY INC - INTENDS TO EXERCISE ITS RIGHT TO CALL INTEL'S INTEREST IN PARTIES' JOINT VENTURE, IM FLASH TECHNOLOGIES, LLC
* MICRON TECHNOLOGY INC - AT TIME OF CLOSE, MICRON EXPECTS TO PAY APPROXIMATELY $1.5 BILLION IN CASH FOR TRANSACTION
* MICRON TECHNOLOGY INC - MICRON CAN EXERCISE CALL OPTION STARTING JAN. 1, 2019
* MICRON TECHNOLOGY INC - JOINT MANUFACTURE OF 3D XPOINT MEMORY WILL CONTINUE AT IM FLASH FACILITY IN LEHI, UTAH
* MICRON TECHNOLOGY - ANTICIPATES NO MEANINGFUL IMPACT TO OVERALL FINANCIAL RESULTS, CHANGES TO FISCAL 2019 CAPEX & LONG-TERM CAPITAL EXPENDITURE TARGET
* MICRON TECHNOLOGY INC - MICRON WILL SELL 3D XPOINT MEMORY WAFERS TO INTEL FOR UP TO A YEAR AFTER CLOSE
* MICRON TECHNOLOGY-AT TIME OF CLOSE, CO EXPECTS TO PAY IN CASH, DISSOLVING INTEL'S NON-CONTROLLING INTEREST IN IM FLASH AS WELL AS IM FLASH MEMBER DEBT
* MICRON TECHNOLOGY - BASED ON PRIOR AGREEMENTS, CO WILL SELL 3D XPOINT MEMORY WAFERS TO INTEL FOR UP TO A YEAR AFTER CLOSE
* MICRON TECHNOLOGY INC - FLASH WILL BECOME A WHOLLY-OWNED SUBSIDIARY OF MICRON
* MICRON TECHNOLOGY INC - ALL IM FLASH EMPLOYEES WILL BECOME PART OF MICRON TEAM Source text for Eikon: Further company coverage: REUTERS |
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