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BREAKING NEWS / UPDATE: Wausau police confirm Stephanie Low's body was found in Wabeno; person of interest Kristopher Torgerson to be charged with homicide

WAUSAU, Wis (WSAU)  Wausau police say Stephanie Low's body has been found. Police revealed at a news conference today that a person of interest in her death, Kristopher Torgerson, led police to her body on September 19th. The body has since been positively ID'ed by the state crime lab. The autopsy lists 'homicide' as the cause of death. Torgerson had been questioned nearly four years ago after she had first disappeared. Wausau PD say he was in custody on other charges, and agreed to sh...

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Micron says moves closer to Elpida deal

Elpida chips are seen at an electronic store in Tokyo's Akihabara district April 24, 2012. REUTERS/Toru Hanai
Elpida chips are seen at an electronic store in Tokyo's Akihabara district April 24, 2012. REUTERS/Toru Hanai

SAN FRANCISCO (Reuters) - Memory chipmaker Micron said the Tokyo district court issued an order approving its acquisition of Japanese memory chipmaker Elpida after creditors agreed to the plan.

Boise, Idaho-based Micron, which is losing money due to a crumbling PC industry, wants to create larger economies of scale and offered in July to buy Elpida for about $750 million in cash and to pay creditors a total of $1.75 billion in annual installments through 2019.

Elpida's creditors voted to approve the deal on Tuesday, Micron said.

In October, the Tokyo court referred the reorganization plan to creditors for approval after it dismissed a rival proposal promoted by a group of bondholders led by hedge funds Linden Advisors, Owl Creek Asset Management and Taconic Capital Advisors.

Finalization of the approval order could come with four weeks, presuming no appeal is filed, Micron said.

Micron and Elpida also need approval from the U.S. Bankruptcy Court in Delaware, where the opposed bondholders have shifted their fight.

Elpida, the last of Japan's dynamic random access memory (DRAM) chipmakers, was driven into bankruptcy by falling chip sales and foreign competition.

The acquisition would make Micron, which continues to expect the transaction to close in the first half of 2013, the No. 2 global supplier of DRAM chips, behind Samsung Electronics.

(Reporting By Noel Randewich; editing by Andrew Hay)