SK hynix says submitted bid interest for Japan's Elpida

SEOUL, March 30 Fri Mar 30, 2012 2:33am EDT

SEOUL, March 30 (Reuters) - South Korean chipmaker SK hynix said on Friday it had submitted bid interest for Japan's Elpida Memory Inc in a potential deal that could create a stronger challenger to sector leader Samsung Electronics Co.

"We've submitted our interest today, which is the initial bid deadline, and plan to decide whether to make a formal bid after thorough due diligence," SK hynix said in a statement to the Korean stock exchange.

The move comes just after the firm officially launched as SK hynix this week following a takeover of a majority stake in Hynix by cash-rich SK Telecom Co.

Hynix's chief executive said earlier this month it was not interested in Elpida.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.