Feeds

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

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

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.