BOISE -- Micron Technology, Inc. has confirmed its intent to purchase a Japanese memory company currently in corporate reorganization.

Elpida Memory, Inc. is a Tokyo-based company that manufactures semiconductor DRAM memory. Elpida owns maufacturing facilities in both Hiroshima and Taiwan. The company's capital worth was valued at more than $2.9 billion USD as of September 30th, 2011.

On Wednesday, Micron executives confirmed their discussions with trustees for Elpida Memory, Inc. to acquire Elpida's business. Micron made the announcement after a Tokyo District Court decided to allow Elpida's trustees to negotiate a corporate sponsorship agreement with Micron, whereby Micron would acquire the entire business.

Micron representative say they'll make more information available when, and if, the agreement proceeds further.

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