Feeds

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

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

Providing a secure and efficient Helpdesk

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple's iPhone 6 first-day sales are MEANINGLESS, mutters analyst
Big weekend queues only represent fruity firm's supply
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Bill Gates, drugs and the internet: Top 10 Larry Ellison quotes
'I certainly never expected to become rich ... this is surreal'
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
EMC, HP blockbuster 'merger' shocker comes a cropper
Stand down, FTC... you can put your feet up for a bit
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.