WILMINGTON, Del., Aug 21 (Reuters) - Texas Instruments Inc agreed to buy Qimonda AG's bankrupt U.S. unit for $172.5 million, according to court documents.
Texas Instruments agreed on Thursday to be the 'stalking horse bidder' for the asets of Qimonda Richmond LLC, according to documents filed in Delaware's bankruptcy court.
A stalking horse bid sets the floor for an auction if other bidders emerge.
An auction will be held on Sept. 23, according to court documents.
Qimonda Richmond filed for bankruptcy earlier this year.
(Reporting by Tom Hals) (thomas.hals@thomsonreuters.com; 1-302-993-6283) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Texas Instruments agreed on Thursday to be the 'stalking horse bidder' for the asets of Qimonda Richmond LLC, according to documents filed in Delaware's bankruptcy court.
A stalking horse bid sets the floor for an auction if other bidders emerge.
An auction will be held on Sept. 23, according to court documents.
Qimonda Richmond filed for bankruptcy earlier this year.
(Reporting by Tom Hals) (thomas.hals@thomsonreuters.com; 1-302-993-6283) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
