Micron earlier this week announced it has signed a definitive agreement to acquire Numonyx in an all-stock transaction that would value the company at $1.27 billion.
"Acquiring Numonyx brings together two memory leaders and positions Micron to offer the most comprehensive, cost-competitive solutions in the industry to a broad range of customers and end-markets," said Steve Appleton, Chairman and CEO of Micron.
The agreement has Micron issuing 140 million Micron common shares to Numonyx shareholders, Intel, STMicroelectronics, and Francisco Partners. In addition, up to 10 million more Micron common share will be issued ratably to Numonyx shareholders, the company said.
Micron says it expects Numonyx's balance sheet to be debt-free after closing the deal.