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Saturday, April 7, 2012

Toshiba mulls joint Elpida rehab bid


Toshiba Corp. may make a joint bid with South Korean chip-maker SK Hynix Inc. to sponsor the rehabilitation of struggling Elpida Memory Inc., sources said.

But it remains uncertain whether SK Hynix, a member of the SK major conglomerate will accept Toshiba's proposal because it already has sufficient funds to help Elpida.

Toshiba struck out during the first round of bidding in late March because it was outbid, the sources said Thursday. The second round will be held in late April, the sources said.

Elpida, Japan's only maker of dynamic random access memory used in personal computers and smartphones, filed for protection Feb. 27. It plans to select a supporter by May and submit a rehabilitation scheme to the Tokyo District Court by Aug. 21.

After the first round of bidding, three parties — including SK Hynix and Micron Technology Inc. of the U.S. — probably survived.

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The Japan Times

Article 2 of 3 in Business news

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