Spansion Inc. (CODE)

[$tockfather]

Mark LaPedus
EE Times
04/08/2009 4:57 PM

Is Micron seeking an acquisition?

SAN JOSE, Calif. -- Amid a DDR3 memory push, Micron Technology Inc. on Tuesday (April 7) said that it plans to raise $450 million through the sale of common stock and convertible senior notes.

Why? With the potential offering, Micron could be seeking an acquisition. ''Management mentioned that the proceeds (of the offering) would be used for strategic transactions and acquisitions among others,'' said Daniel Amir, an analyst at Lazard Capital Markets, in a report.

''Due to the fact that Spansion has been vocal about selling its assets, we believe that this would be a natural fit for Micron to pick up a distressed asset which includes a new 300-mm fab for very low prices.