Feeds

SK Hynix drops bid to buy bankrupt Elpida

Joins Toshiba in abandoning DRAMurai warrior's corpse

Internet Security Threat Report 2014

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. ®

Top 5 reasons to deploy VMware with Tegile

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
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
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.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.