Micron Technology’s (NASDAQ:MU) proposed $2.5 billion purchase of the bankrupt chipmaker Elpida (ELPDF.PK) has been cleared by a court in Tokyo, which also threw out a rival scheme from the latter’s bondholders. Meanwhile, the holders expect to vote against the acquisition when it goes to a creditor vote, which must happen by February 26th. Opponents say that the deal delivers, “Elpida to Micron at a grossly inadequate price.”
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Bill Barrett Corporation (NYSE:BBG) will divest certain non-core natural gas assets that include all Wind River Basin natural gas producing properties, the Powder River Basin coal bed methane assets and also a working interest in its Gibson Gulch-Piceance Basin development property, to an affiliate of Vanguard Natural Resources (NYSE:VNR) for a price of $335 million.
Shares of JDA Software Group (NASDAQ:JDAS) pop on the news that it has agreed to be bought by the private supply chain management software company RedPrairie for $45 per share in cash. The amount marks an 18 percent bonus to JDA’s Wednesday close and a 16 percent premium when compared to its all-time high.