Elpida: Micron in talks on possible investment

Reuters News
Posted: May 10, 2012 3:46 PM

TOKYO (Reuters) - Elpida Memory Inc said on Thursday that it is in talks with Micron Technology on a possible investment in the Japanese chipmaker, which has filed for bankruptcy protection.

Elpida said in a statement that Micron Technology had won the right to negotiate to buy the company. The announcement confirmed what a source with direct knowledge of the deal had told Reuters early this week.

Elpida, which also makes chips used in smartphones and tablets, has been searching for an investor to sponsor its restructuring after filing for bankruptcy protection in February with 448 billion yen ($5.63 billion) in liabilities.

($1 = 79.5500 Japanese yen)

(Reporting by Ayai Tomisawa; Editing by Edmund Klamann)