Under the terms of the agreement, Micron will issue 140 million Micron common shares to Numonyx shareholders - Intel Corporation, STMicroelectronics and Francisco Partners - and up to 10 million additional Micron common shares will be issued to Numonyx shareholders.
The transaction further strengthens Micron’s position as one of the world’s leading memory companies, with a portfolio of DRAM, NAND and NOR memory products.
By making the acquisition, Micron will increase its manufacturing capacity and gain access to Numonyx’s customer base, providing opportunities for the company in the embedded and mobile markets.
Micron currently estimates that the transaction would be accretive to the company on both free-cash flow and non-GAAP earnings beginning fiscal year 2011. In addition, it is anticipated that the Numonyx balance sheet will be debt free following closing.
The transaction is subject to regulatory review and other customary closing conditions and is currently anticipated to close within three to six months.
Report highlights significant impact of manufacturing on UK economy
Note to Evil Villain/Dave 2020. Thatcher was PM for _11_ years, from 1979 to 1990 so no one under the age of 34 was even born when she left office....