Mergers and Acquisitions Recap: Micron Chatter Partly Confirmed, EMC Gets Giddy

Rumors that Micron (NASDAQ:MU) wants to buy bankrupt Japanese chipmaker Elpida Memory are partly confirmed, as the former says that it is indeed in talks over the matter. However, there is no official comment on media reports that Micron has offered more than ¥200 billion ($2.5 billion) for Elpida.

The Avon (NYSE:AVP) – Coty courtship continues, as the latter increases its bid from $23.25 to $24.75, and says that the new offer represents “$1 billion of incremental value” to Avon’s shareholders. Avon has until Monday to respond and until May 31st to decide whether there is “a mutually agreeable basis for a transaction”. The new offer is worth $10.69 billion, which is up from $10 billion originally, with Berkshire Hathaway (NYSE:BRKA) providing part of the equity financing and JPMorgan (JBM) the debt. For its part, Avon will consider the letter in which the offer was made “in due course”.

Further Reading: Can Berkshire Make a Buyout Sexy for Avon?

Facebook’s (FB) purchase of Instagram is now the object of an FTC investigation, sources say, which will possibly delay the transaction’s closing until after the second quarter. Indeed, the inquiry could take 6 to 12 months, which will put off FB’s integration of Instagram’s tech and staff. This comes as Mark Zuckerberg’s road show is in progress, and is not a good prospect in a very fast-moving industry.

EMC (NYSE:EMC) buys Israel-based flash storage company XtremIO in an all-cash deal, in which terms were not reported. The acquisition will not have an impact upon the fiscal year 2012 results. Globes says that the purchase price was $430 million, against earlier estimates of between $400 million and $450 million.

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