Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Home
Business
Business Home
Economy
Technology
Media
Small Business
Legal
Deals
Earnings
Social Pulse
Business Video
The Freeland File
Markets
Markets Home
U.S. Markets
European Markets
Asian Markets
Global Market Data
Indices
M&A
Stocks
Bonds
Currencies
Commodities
Futures
Funds
peHUB
World
World Home
U.S.
Brazil
China
Euro Zone
Japan
Mexico
Russia
India Insight
World Video
Reuters Investigates
Decoder
Politics
Politics Home
Election 2012
Issues 2012
Candidates 2012
Tales from the Trail
Political Punchlines
Supreme Court
Politics Video
Tech
Technology Home
MediaFile
Science
Tech Video
Tech Tonic
Social Pulse
Opinion
Opinion Home
Chrystia Freeland
John Lloyd
Felix Salmon
Jack Shafer
David Rohde
Bernd Debusmann
Nader Mousavizadeh
Lucy P. Marcus
David Cay Johnston
Bethany McLean
Edward Hadas
Hugo Dixon
Ian Bremmer
Lawrence Summers
Susan Glasser
The Great Debate
Steven Brill
Jack & Suzy Welch
Frederick Kempe
Christopher Papagianis
Breakingviews
Equities
Credit
Private Equity
M&A
Macro & Markets
Politics
Breakingviews Video
Money
Money Home
Tax Break
Lipper Awards 2012
Global Investing
MuniLand
Unstructured Finance
Linda Stern
Mark Miller
John Wasik
James Saft
Analyst Research
Alerts
Watchlist
Portfolio
Stock Screener
Fund Screener
Personal Finance Video
Money Clip
Investing 201
Life
Health
Sports
Arts
Faithworld
Business Traveler
Entertainment
Oddly Enough
Lifestyle Video
Pictures
Pictures Home
Reuters Photographers
Full Focus
Video
Reuters TV
Reuters News
Article
Comments (0)
Follow Reuters
Facebook
Twitter
RSS
YouTube
Read
California medical pot crackdown hits upscale Santa Barbara
03 May 2012
U.S. hiring slows, raising worries on recovery
12:28pm EDT
WRAPUP 4-U.S. hiring slows, raising worries on recovery
10:33am EDT
Obama administration urges freer access to cellphone records
03 May 2012
Samsung unwraps latest Galaxy rival to iPhone
3:45am EDT
Discussed
134
One in seven thinks end of world is coming: poll
114
Suicides have Greeks on edge before election
80
As America’s waistline expands, costs soar
Watched
Windy weather makes for dramatic plane landings in Spain
Thu, Apr 26 2012
Hungry zoo lion faces off with unfazed toddler
Thu, May 3 2012
Printable house presents new paradigm in eco-architecture
Thu, May 3 2012
Pictures
Reuters Photojournalism
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
Tallest skyscrapers
The tallest buildings in the world right now. Slideshow
Mexican Lolita
The so-called "Lolita" style has found its way to Mexico. Slideshow
Micron likely winner in bid for Japan's Elpida-NHK
Tweet
Share this
Email
Print
Related News
UPDATE 4-Micron likely winner in bid for Japan's Elpida-NHK
11:49am EDT
SK hynix drops bid for Japan's Elpida, shares jump
1:22am EDT
Deals of the day -- mergers and acquisitions
Wed, May 2 2012
Elpida bondholders threaten to thwart auction: filing
Wed, May 2 2012
UPDATE 2-Elpida bondholders threaten to thwart auction-filing
Wed, May 2 2012
Analysis & Opinion
Samsung moves on from Japan to nibble at Apple
Don’t blame Japan for foreign CEO departures
Related Topics
Tech »
Deals »
Global Deals Review: 2011 Q3 »
Global Deals Review: 2011 Q2 »
Global Deals Review »
Inflows Outflows »
Media »
Japan »
By Miyoung Kim and Chris Gallagher
SEOUL/TOKYO |
Fri May 4, 2012 9:56am EDT
SEOUL/TOKYO (Reuters) - U.S.-based Micron Technology is the likely winner in the bidding for Elpida Memory Inc, Japan's public broadcaster NHK reported on Friday, in a deal that would help the failed Japanese chipmaker sustain operations and repay creditors.
Elpida filed for bankruptcy protection in February with 448 billion yen ($5.6 billion) in liabilities - a record for a Japanese manufacturer - after being hit by a strong yen and a slide in prices of DRAM chips for personal computers.
Suitors were likely interested in the chips Elpida manufactures for smartphones and tablets, analysts have said.
In the final round of bidding that closed on Friday, U.S. chipmaker Micron offered around 200 billion yen ($2.5 billion) and pledged to keep the company's main Hiroshima plant and employees, NHK reported without citing sources.
Micron and Elpida are expected to finalize a deal as early as this month and submit a restructuring plan to the courts by August, the broadcaster said.
South Korea's SK hynix said earlier on Friday that it had dropped out of the race to buy Elpida. TPG Capital LP and China's Hony Capital had intended to place a joint bid for Elpida in the final bidding round, sources told Reuters previously.
TPG and Elpida declined to comment. Officials for Micron and Hony were not immediately available for comment on the report.
SK hynix decided to pull out as the deal would not "strategically benefit" the company, SK Group's Chairman Chey Tae-won told reporters after a board meeting.
The withdrawal sent the shares of the South Korean chipmaker to a two-week high.
The final bidding follows protests by a group of Elpida debt holders who said they may thwart the auction if Elpida's trustees agree to a reported selling price of 150 billion yen.
The bond holders said they could submit a rival reorganization plan if the bankruptcy trustees agreed to a low-ball bid that would "unintentionally transfer great value to the winning sponsor."
Elpida is the world's No.3 maker of dynamic random-access memory (DRAM) chips, trailing Samsung Electronics and SK hynix with a market share of around 12 percent.
Shares in SK hynix jumped as much as 6.1 percent to 28,900 won on Friday, the highest since April 19. The stock closed at 28,150 won, up 3.3 percent, compared with a 0.3 percent fall in the wider market.
SK hynix last month posted an operating loss of 260 billion won ($227.8 million) for the three months ended March, its third straight quarterly loss, as tumbling prices of DRAM chips eroded earnings of chipmakers including Elpida.
Prices of DRAM chips used in personal computers have declined due to slower PC sales. Consumers are increasingly switching to tablets and smartphones that use mobile DRAM and NAND-type flash memory chips.
SK hynix said last month it expected DRAM chip prices to rebound from the second quarter, helped by reduced supply from troubled makers including Elpida.
Elpida reported losses for five straight quarters, and its failure was the largest for a Japanese manufacturer ever. ($1 = 80.3800 Japanese yen)
(Additional reporting by Junko Fujita)
Tech
Deals
Global Deals Review: 2011 Q3
Global Deals Review: 2011 Q2
Global Deals Review
Inflows Outflows
Media
Japan
Related Quotes and News
Company
Price
Related News
Tweet this
Link this
Share this
Digg this
Email
Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Back to top
Reuters.com
Business
Markets
World
Politics
Technology
Opinion
Money
Pictures
Videos
Site Index
Legal
Bankruptcy Law
California Legal
New York Legal
Securities Law
Support & Contact
Support
Corrections
Connect with Reuters
Twitter
Facebook
LinkedIn
RSS
Podcast
Newsletters
Mobile
About
Privacy Policy
Terms of Use
AdChoices
Copyright
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
Thomsonreuters.com
About Thomson Reuters
Investor Relations
Careers
Contact Us
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.