Advertisement

HindustanTimes Tue,23 Sep 2014

Micron likely to buy Japan's ailing Elpida

AFP   May 05, 2012
First Published: 13:15 IST(5/5/2012) | Last Updated: 13:19 IST(5/5/2012)
US-based semiconductor maker Micron Technology is likely to buy ailing Japanese rival Elpida Memory for 200 billion yen ($2.5 billion), a newspaper said on Saturday.

Micron, the world's fourth largest chipmaker, made the "most favorable offers" in the bidding on May 4, and Elpida "highly praised" them, the Yomiuri Shimbun reported, quoting unnamed sources.

South Korea's SK Hynix, the world's second largest microchip maker, dropped its bid, while offers made by a group of US and Chinese investment funds appeared less attractive for Elpida, Yomiuri said.

Elpida's administrators will provide Micron with the right to negotiate with Elpida as early as Monday so that the two sides can discuss details before finalising the deal, it said.
Immediate confirmation of the report was not available.

Elpida, one of the world's top microchip makers, was delisted from the Tokyo Stock Exchange late March in the biggest corporate failure in Japanese manufacturing history.

The troubled firm, which had stayed alive thanks to a 2009 government-backed rescue plan, filed for bankruptcy protection in late February with crushing debts of 448 billion yen.

Advertisement
more from Business

Indian BPOs eye LatAm, West Asia for growth

Expanding into Latin American countries would also help them serve US — their largest client — from closer locations. “West Asia is comparatively a virgin market for the Indian BPM companies.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved