Thursday, November 1, 2012, 5:40 AM
A Tokyo court has approved Micron's (MU) plan to acquire Elpida in a $2.5B deal and dismissed a rival scheme from the bankrupt Japanese chipmaker's bondholders. Those holders now intend to vote against the plan when it goes to a vote of creditors, which needs to take place by Feb. 26, saying it delivers "Elpida to Micron at a grossly inadequate price."
Comment![Tech, M&A]
Friday, September 7, 2012, 4:59 AM
Apple (AAPL) reportedly cuts its orders from Samsung (SSNLF.PK) for DRAM and NAND memory chips for the new iPhone, with beneficiaries including Elpida, Toshiba and SK Hynix. However, Samsung remains the only manufacturer of Apple-designed microchips for the handset, as well as for the iPad. Apple's DRAM and NAND bookings from the Korean giant had been falling before the latest move.
6 Comments[Top Stories, Consumer, Tech]
Wednesday, August 22, 2012, 8:57 AM
Elpida Memory (ELPDF.PK) President Yukio Sakamoto rejects reports he will step down once the bankrupt chipmaker has been sold to Micron (MU), saying he hasn't decided his future yet. Elpida's creditors believe that Sakamoto should bear responsibility for the company's predicament and have asked a court to ensure that his status is clarified.
2 Comments[Tech]
Tuesday, August 14, 2012, 3:54 AM
A group of Elpida Memory's bondholders offer to lend the bankrupt chipmaker ¥30B ($383M) in an alternative restructuring plan for the company as they look to push Micron (MU) to increase its bid for the firm. Micron has offered to buy Elpida's equity for ¥60B and pay creditors ¥140B, while the creditors value the company at over ¥300B.
Comment![Tech, Top Stories]
Tuesday, July 10, 2012, 2:18 AM
A group of Elpida bondholders plan to vote against Micron's (MU) ~$750M takeover of the bankrupt Japanese chipmaker, and told a Tokyo district court they'll put forward an alternative proposal to Micron's offer. It's unclear if the unnamed bondholders have enough votes to hold up the deal.
Comment![Tech, M&A]
Monday, July 2, 2012, 7:42 AM
Micron Technology (MU) has agreed to acquire Elpida Memory for about $750M. Under the deal, Micron will pay the creditors of the bankrupt Japanese chipmaker $1.75B in annual installments until 2019. Micron +1.6% premarket. (previous)
Comment![Tech, M&A, Top Stories, Breaking News]
Thursday, June 28, 2012, 2:07 PM
Micron (MU +3.3%) jumps in afternoon trading on a report from The Nikkei it will buy bankrupt Elpida (ELPDF.PK) for ¥200B ($2.51B). The companies have been talking for months about a deal, which stands to improve industry-wide DRAM pricing by limiting capacity, while increasing Micron's economies of scale and strengthening its relatively weak position in the fast-growing mobile DRAM market. There are concerns, however, about the impact on Micron's balance sheet.
2 Comments[Tech, On the Move, M&A]
Thursday, May 10, 2012, 2:43 AM
Micron (MU) confirms at least part of the chatter, saying it is indeed in talks to acquire Elpida Memory. No official word on media reports that Micron has offered more than ¥200B ($2.5B) for the bankrupt Japanese chipmaker.
1 Comment[Tech, M&A]
Saturday, April 7, 2012, 3:26 PM
The scrum for bankrupt Japanese chipmaker Elpida Memory (ELPDF.PK) is heating up with private-equity firms TPG Capital and Hony Capital looking at a joint bid for the No. 2 memory-chip manufacturer. The firms are expected to join SK Hynix (HXSCF.PK) in a second round of bidding, scheduled to close April 27. (previously)
Comment![Tech, M&A]
Thursday, April 5, 2012, 3:04 AM
Toshiba (TOSBF.PK) is reportedly out of the running to become Elpida Memory's turnaround partner, leaving the dubious position to one of three foreign firms, including Micron (MU).
Comment![Tech]
Monday, February 27, 2012, 7:30 PM
Japanese stocks opened lower today, with tech shares weighed by the bankruptcy filing of Japan's lone DRAM-chip maker Elpida Memory (ELPDF.PK). The Nikkei Average is currently down 0.6% to 9,577: Renesas Electronics (RNECY.PK -6.8%), Advantest (ATE -6.5%) and NEC (NIPNF.PK -3.1%).
Comment![Global & FX]
Friday, February 24, 2012, 3:27 AM
Japan may extend Elpida's (ELPDF.PK) government guarantees on loans to give the struggling chipmaker more time to talk with Micron (MU) about a capital tie-up. According to the Yomiuri newspaper, a Micron exec said earlier this month that the company was very interested in reaching a deal. (previously)
Comment![Global & FX, Tech]
Tuesday, February 14, 2012, 7:51 PM
Shares of Elpida Memory (ELPDF.PK) are ask-only in early trading after the chip maker said efforts to strike a capital alliance to ease its heavy debt burden were in trouble and that its future as a going concern was in question.
Comment![Global & FX, Tech]
Tuesday, February 14, 2012, 1:14 PM
With an April deadline to pay ¥45B in debt fast approaching, Elpida (ELPDF.PK) says it faces "uncertainty" over its ability to stave off bankruptcy. The chipmaker, struggling with massive losses in its DRAM operations, has been rumored to seek a tie-up with Micron (MU), but Steve Appleton's recent death may have lowered the odds of such an event occurring.
Comment![Tech]
Wednesday, February 8, 2012, 7:43 PM
Japanese shares are lower today, as lack of a Greek debt deal weighs on the markets. The Nikkei Average is currently down -0.3% at 8,992, with major exporters leading declines: Sony (SNE -1.2%), Sharp (SPCAY.PK -0.7%), Elpida Memory (ELPDF.PK -2.1%) and Fujitsu (FJTSY.PK -1%).
Comment![Global & FX]