Feeds

Sugar daddies dangle fat wad to woo chip biz Elpida from Micron

Ditch the Yanks, treat yourself with this $380m cheque

Build a business case: developing custom apps

A group of bondholders are offering ailing chip maker Elpida a loan of ¥30bn ($383m) to restructure instead of letting Micron take over.

The loan deal is going to be presented in bankruptcy court in Tokyo today, a source whispered to Reuters.

The bondholders don't like the plan for Micron to snap up the company for ¥200bn (£1.6bn) claiming that the sale price undervalues Elpida and its assets, so they've been trying to dig it out of trouble themselves.

Elpida filed for bankruptcy back in February and has been looking for a white knight ever since. US-based Micron has offered to pay ¥60bn (£486m) upfront and give creditors ¥140bn (£1.13bn) in instalments until 2019.

But the bondholders, a group of Japanese and international investment funds, claim that there are so many conditions attached to the instalments, they might never get paid.

The group reckons Elpida can get back on track on with its help and is in talks with another as yet unknown financial sponsor that would be willing to inject some capital. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
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
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.