By Josh Beckerman

Micron Technology Inc. (MU) plans to exercise its right to buy Intel Corp.'s (INTC) interest in their joint venture, IM Flash Technologies LLC.

Micron, which can exercise a call option starting Jan. 1, 2019, expects to pay about $1.5 billion in cash at the time of close.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

October 18, 2018 16:50 ET (20:50 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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