The company recently said that the Tokyo District Court approved Micron's plan for the reorganization of Elpida and was happy to hear that the court noted that "a competing plan of reorganization proposed by certain of Elpida's creditors" would not be considered for approval.
While being an important step, Micron now also needs the approval of the creditors, even if the company said that it is optimistic that it can get that approval, as well as court and regulatory approvals in other countries to be able to close the acquisition sometime in the first half of 2013.
So far, the bankruptcy of Elpida has not had any stabilizing effect on DRAM prices. Manufacturers had hoped that less supply, in combination with potentially increased demand from new product launches tied to the release of Windows 8 would help balance an environment that could threaten the existence of more DRAM makers. According to DRAMeXchange, 4 Gb DDR3 1600 MHz chips are now selling for as low as $1.50, which is down almost 15 percent from last month. Prices for 2 Gb chips are holding their price level of about $0.80.