Micron Technology CEO Mark Durcan has paid a visit to Taiwan to meet executives at Formosa Plastics Group (FPG) raising speculation that Micron's planned acquisition of Inotera Memories could materialize.

FPG is the parent company of Nanya Technology, which has agreed to invest up to NT$31.5 billion (US$1 billion) in Micron to buy the US firm's equity as part of the conditions enabling Micron's Inotera buyout to complete.

Inotera disclosed recently its deal with Micron would expire after November 30, 2016, and the Taiwan-based company would have to submit an application for delisting to the Taiwan Stock Exchange (TSE) by October 19 according to the TSE rules. The deal could also be terminated by either of the parties before the expiration date. Nevertheless, if Nanya's participation in Micron's private placement remains unsatisfied, Micron has the right but not the obligation to extend the closing date by another 90 days, Inotera indicated.

Micron has agreed to buy all the shares it does not own in Inotera, and have Inotera merge with its Taiwan unit - Micron Semiconductor Taiwan (MST; formerly Rexchip Electronics). The deal, valued at a total of approximately US$3.2 billion, was supposed to close in mid-July. However, Micron has pushed back the closing.