TITLE

Micron Ups Lexar Bid

PUB. DATE
June 2006
SOURCE
Electronic News;6/5/2006, Vol. 52 Issue 23, p45
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plan of Micron Technology Inc. to increase the exchange ratio that each outstanding share of Lexar common stock would receive in the merger. Investor Icahn Associates Corp. said that it would not support the merger because the price being paid for Lexar Media Inc. was insufficient. Micron's move is subject to approval of both company's boards of directors and is subject to Micron's determination that there is sufficient Lexar stockholder support for the merger at the revised exchange ratio. Lexar intends to adjourn the special meeting to allow additional time for the companies to agree upon the terms of an amendment to the merger agreement.
ACCESSION #
21297958

 

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