This story has been updated since 12:18 p.m. with information on Google and closing prices.
NEW YORK ( TheStreet) -- Micron (MU) shares soared 3.8% to $6.55 on Monday as investors digested the news about the chip maker's acquisition of bankrupt Japanese rival Elpida Memory Inc for $750 million in cash and $1.75 billion in future installment payments.
In a related deal, Micron took a 24% stake in Taiwanese chip maker Rexchip Electronics for about $334 million. Elpida and Rexchip's manufacturing capabilities will roughly double Micron's capacity to make DRAM memory chips, a key component for smartphones and mobile devices.
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