Elliott Opposes Micron Purchase of Lexar

Micron Technology Inc.’s $680-million purchase of Lexar Media Inc. hit a stumbling block after Elliott Associates took a 6.5% stake in Lexar and said it was against the bid.

Opposition from Elliott, a New York-based hedge fund, follows signals from billionaire Carl Icahn that he too may resist the transaction. Icahn said last week that he had bought 6.1% of Fremont, Calif.-based Lexar and might try to stop Micron’s effort.