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Micron Acquires Lexar Media for $688 million

  March 8th, 2006



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Micron Acquires Lexar Media for $688 millionLexar Media - one of the most prominent players in the USB flash drive arena - has announced today that Micron Technology has acquired the company in a stock-for-stock merger for $688 million. Under the definitive agreement, each outstanding common share of Lexar will receive 0.5625 shares of Micron stock.

Upon closing, Lexar will become a wholly-owned subsidiary of Micro, and its stocks will cease trading on NASDAQ. Besides the financial terms, Micron Technology also owns Crucial, a subsidiary it formed to sell its excess DRAM inventory through direct sales. We suppose Micron Technlogy wants Lexar's strong brand and market position in USB flash drives and solid-state removable media.

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