TPG Capital bidding for Elpida with China's Hony Capital -source

TOKYO, April 6 Fri Apr 6, 2012 1:17am EDT

TOKYO, April 6 (Reuters) - U.S. private equity firm TPG Capital LP is bidding to buy failed Japanese memory chip maker Elpida with China's Hony Capital, a source familiar with the matter said.

The two firms will participate in the second round of bidding for Elpida, which is due to close on April 27, said the person, who asked not to be identified because the information is not public.