Bloomberg News

Hynix Asked by Korea Exchange to Comment on Elpida Bid Report

March 30, 2012

Hynix Semiconductor Inc. (000660), the world’s No. 2 computer memory-chip maker, has been asked by South Korea’s stock exchange to comment on a report it submitted a bid for Elpida Memory Inc. (6665), according to a regulatory filing.

Hynix has until noon on April 2 to reply. Hynix submitted a bid today to participate in the sale of Elpida, Yonhap Infomax reported. Hynix dropped 3.9 percent to 29,300 won as of 2:16 p.m. in Seoul trading, while the benchmark Kospi index was little changed.

Toshiba Corp. (6502), the world’s second-largest maker of flash memory, also may invest in Elpida, the Japanese chipmaker that filed for bankruptcy protection last month, a senior Toshiba executive said. Toshiba may decide today whether to make a non- binding bid and could invest in Elpida either alone or as part of a group, said the executive, who declined to be identified because the discussions are private.

Elpida filed for bankruptcy with liabilities of 448 billion yen ($5.5 billion) on Feb. 27, after falling prices and a stronger yen exacerbated the Tokyo-based company’s troubles.

To contact the reporter on this story: Jun Yang in Seoul at jyang180@bloomberg.net

To contact the editor responsible for this story: Seyoon Kim at skim7@bloomberg.net


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