Inotera Memories' deal with Micron Technology continues to proceed despite a delay in closing the transaction, said company chairman Pei-Ing Lee in response to some speculation that the deal might fail.

Micron has disclosed its acquisition of Inotera originally scheduled to complete in mid-July will be delayed, and the company "expects to provide an update toward the latter part of calendar 2016." The announcement has raised concerns about uncertainty over the acquisition deal.

Inotera will continue to make its best efforts to go through relevant procedures as required, as the deal continues to proceed, according to Lee.

Micron's management system (including ERP and human resource management) integration might have suspended due to a revised schedule for completion of the deal, Lee noted. Inotera is also working to re-plan a timeline for its internal integration activities, Lee said.

Speaking as Nanya president, Lee indicated Nanya will support the completion of the deal between Micron and Inotera. Nanya will subscribe to new shares issued by Micron as part of the deal.

Nanya has agreed to sell its 24.2% stake in Inotera to Micron for NT$47.6 billion (US$1.47 billion), and invest up to NT$31.5 billion in Micron to buy the US firm's equity. Micron, which owns about 33% of Inotera, is looking to buy Inotera's remaining shares for a total of approximately US$3.2 billion.

Shares of Inotera fell the 10% daily limit to close at NT$26.50 on the Taiwan Stock Exchange (TSE) on June 13, while Nanya's slipped 9% to close at NT$35.90.