SK hynix says drops bid for Japan's Elpida

Reuters News
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Posted: May 03, 2012 11:44 PM

SEOUL (Reuters) - South Korean chipmaker SK hynix <000660.KS> said on Friday it had dropped its bid for Japan's troubled Elpida Memory Inc after participating in the initial round of the auction.

The firm did not elaborate on why it decided to withdraw.

U.S.-based Micron Technology <MU.O> and SK hynix were among a handful of chipmakers and funds that have shown interest in Elpida.

(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)