Micron shares fall on $1.27 billion Numonyx deal

Shares of Micron Technology fell sharply early Wednesday as the chipmaker agreed to acquire Numonyx, the maker of flash memory chips created in a joint venture by Intel Corp. and STMicroelectronics NV.

Micron's stock was down 5.4% in early trading, a day after the Boise, Idaho-based chip company said it has agreed to buy Numonyx in an all-stock transaction.

The privately-held Numonyx was created in 2008 in a joint venture led by Intel and STMicroelectronics. The company produces NOR and NAND Flash microprocessors used in such devices as digital cameras, mp3 music players and cell phones.

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- Posted: 2010-02-10 10:59:53

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