Micron Technology won the right to negotiate exclusively to buy Elpida Memory Inc after offering more than 200 billion yen ($2.5 billion) for the failed Japanese chipmaker, according to a source with direct knowledge of the deal that would more than double the U.S. company's global market share, Reuters reported. By acquiring Elpida, Micron would boost its market share to 25 percent, surpassing South Korea's SK Hynix and becoming the second-biggest maker of DRAM memory chips used in personal computers, according to U.S. technology research firm IHS iSuppli. Samsung Electronics is the largest.

The National Asset Management Agency has intensified its legal efforts to seize international assets from bankrupt developer Ray Grehan by seeking to enter its judgment of €270 million last year from the Irish courts in the US, the Irish Times reported. Documents filed in the New York State Supreme Court show the State loans agency sought to enter the judgment for $351 million, the US dollar equivalent of the Irish court judgment, against the developer at the end of March.

A trustee for failed brokerage MF Global Inc. has begun litigation in the U.K. that aimed at recovering $700 million in customer funds, according to a statement, Bloomberg reported. The trustee, James Giddens, said in April that he had been working since November to return the money and filed a claim with the administrators overseeing the company’s MF Global UK Ltd. unit. According to today’s statement, an application for direction, which begins the legal process, has been filed with the English court.

A unit of Bahrain investment house Arcapita has filed for bankruptcy protection in the United States, the company said in a statement, Reuters reported. Falcon Gas Storage Company, a non-operating subsidiary of Arcapita, also intends to file a motion for joint administration with its parent company for the ongoing Chapter 11 restructuring, it said in the statement late on Monday. In March, Arcapita became the first Gulf entity to file for Chapter 11 bankruptcy protection in the U. S. after it was threatened with legal action if it did not repay a hedge fund in full.

Canada's largest airline Air Canada warned on Thursday that its first-quarter results would be hurt by a C$120 million charge related to the creditor protection filing of its former maintenance unit Aveos, Reuters reported. The airline, struggling for months amid wildcat strikes and a series of feuds with its unions, said it expects to report quarterly earnings before interest, taxes, depreciation, amortization and aircraft rent of between C$170 million and C$180 million.

Canadian Finance Minister Jim Flaherty said he will revamp oversight of the country's dominant mortgage insurer, Canada Mortgage and Housing Corp., by handing over day-to-day supervision of its commercial activities to Canada's bank regulator, Dow Jones reported. Under changes outlined in legislation introduced Thursday, the federal finance minister will also obtain legislative and regulatory authority over CMHC's securitization program and any new commercial programs the housing agency wishes to launch.

When Maclaren USA entered bankruptcy in December, its Chapter 7 filing made for a lot more questions about what the company was doing in bankruptcy than it provided answers—questions that have remained largely unanswered since, The Wall Street Journal Bankruptcy Beat blog reported. Why did sales drop so drastically in 2011, to $34,251 from over $20 million in 2010? Does Maclaren, the U.K.-based company that manufactures the strollers and other products, plan to continue selling in the U.S.?

International Monetary Fund staff said Tuesday governments should consider mandatory debt restructuring for systemically important banks as part of a policy tool set to prevent new financial crises, Dow Jones reported. By instituting a so-called bail-in rule, governments could prevent the type of excessive risk-taking and market disruptions that fueled the 2008-2009 global financial meltdown, senior IMF economists said in a new discussion paper.

Elpida Memory Inc.’s bankruptcy is fueling concern the company could be a burden to an acquirer, with shares of SK Hynix Inc. and Micron Technology Inc. declining on takeover speculation, Bloomberg Businessweek reported. Investors aren’t keen on a full or partial takeover by Hynix or Micron because “they would need funds to buy Elpida’s assets, and even after an acquisition, they would need a lot of money to keep operations going,” said Yuichi Ishida, a Tokyo-based analyst at Mizuho Investors Securities Co.

BlackBerry maker Research In Motion has hired law firm Milbank, Tweed, Hadley & McCloy LLP to work out a restructuring plan that could include selling assets, seeking joint ventures or licensing patents, people briefed on the matter said, Reuters reported. As part of the struggling Canadian smartphone maker's strategic review, the RIM board is discussing ways to boost revenue from its new BlackBerry 10 operating system and possibly opening up its proprietary network, the sources said.