Feeds

SK Hynix drops bid to buy bankrupt Elpida

Joins Toshiba in abandoning DRAMurai warrior's corpse

Beginner's guide to SSL certificates

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.