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TPG and Hony bid for Elpida

by on06 April 2012

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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