Simpson Thacher represented Goldman Sachs as financial advisor to Micron Technology Inc. in connection with its execution of a sponsor agreement with the reorganization trustees of Elpida Memory Inc. of Japan, whereby Micron agreed to acquire Elpida, including Elpida’s 65% stake in Rexchip Electronics, for total consideration of ¥200 billion ($2.5 billion), consisting of ¥60 billion in cash consideration for 100% of Elpida’s equity and a series of installment payments totaling ¥140 billion to be made by Elpida to satisfy the reorganization claims of Elpida’s creditors. Micron also entered into a separate agreement with Powerchip Technology Corporation to acquire its 24% stake in Rexchip Electronics for approximately NT$10 billion ($334 million).
The Simpson Thacher team includes David Sneider and Sayo Kondo.
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