Feeds

SK Hynix drops bid to buy bankrupt Elpida

Joins Toshiba in abandoning DRAMurai warrior's corpse

Mobile application security vulnerability report

South Korean firm SK Hynix said today that it won't be going ahead with a bid for bankrupt Japanese firm Elpida Memory because the deal would have been too expensive.

"The Elpida deal would have been a huge financial investment," an SK Hynix spokesman told the Wall Street Journal. "To ease the financial burden, we had previously hoped to work with possible partners, such as Toshiba, but it didn't work out."

SK Hynix also confirmed in a regulatory filing that its shareholders had agreed to abandon the bidding.

Investors were made very happy by the news, sending the company's shares rising by almost 6 per cent at one point – they were still up by 3.3 per cent at 12.00 BST today.

At the end of last month, Toshiba reportedly pulled out of the running to snap up Elpida because it couldn't sort out a partnership with SK Hynix and didn't want to go it alone. Toshiba's exit was also greeted with relief from investors, growing the firm's shares by 3 per cent on the day the news broke.

With both SK Hynix and Toshiba out of the race, Elpida, whose price tag is rumoured by Japanese media to be about $1.9m, is left to the mercies of US chipmaker Micron or private equity firms.

Elpida, once the world's No 3 DRAM manufacturer, suffered as the world decided it liked NAND chippery much better. It filed for bankruptcy protection in February. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.