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Elpida awaits fate amid potential takeover

Posted: 03 Apr 2012 ?? ?Print Version ?Bookmark and Share

Keywords:bankruptcy? takeover? DRAM?

According to various reports, Micron Technology Inc., SK Hynix Inc. and Toshiba Corp. are all looking to have a piece or all of Elpida Memory Inc. The bankrupt Japanese DRAM vendor has filed for bankruptcy last month and has failed to find investment or get a second injection of government funding. Elpida is soliciting bids from potential investors hoping to get a second breath of life from its current state.

Japan's Nikkei newspaper reported that after initially turning down an opportunity to invest in Elpida prior to the company filing for bankruptcy, Toshiba had decided to make a bid for Elpida. The report said Toshiba could seek financial assistance from the government-backed Enterprise Turnaround Initiative Corp. of Japan.

The Japanese government reportedly urged Toshiba to invest in Elpida in January, prior to the company's bankruptcy filing. But Toshiba, which itself exited the volatile DRAM industry years ago, supposedly declined.

Micron, which has reportedly been in negotiations with Elpida for several weeks about possible investment, plans to make a bid for Elpida, according to a report by Reuters, which cited unnamed sources. Goldman Sachs is acting as Micron's financial advisor on the bid.

In an email exchange with EE Times, a spokesman for Micron declined to comment on reports of Micron bidding for Elpida, citing a company policy against commenting on rumors.

SK Hynix, the South Korean memory chip vendor formerly known as Hynix Semiconductor, said in a regulatory filing Friday that it had filed an initial bid for Elpida, according to a separate Reuters report. The report, which indicated that the deadline for initial bids fell Friday, said Hynix would decide whether or not to make a formal bid for Elpida after conducting due diligence.

- Dylan McGrath
??EE Times

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