Lots of interest in turning Japanese
TPG and China's Hony Capital are jointly bidding for Elpida Memory which means the troubled Japanese chip maker could be owned off-shore.
TPG and Hony Capital jointly bid in the first round of the auction and are expected to submit a joint bid in the second round, which is due to close on April 27. South Korea's Hynix said a week ago that it had submitted a preliminary bid proposal for Elpida.
Elpida filed for bankruptcy protection in late February in the largest corporate failure among the nation's manufacturers. The company makes DRAM.
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Nick Farrell
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