SAN FRANCISCO—Troubled Japanese DRAM vendor Elpida Memory Inc. will solicit bids from investors in an effort to pull itself out of bankruptcy protection, according to a report by Japan's Nikkei newspaper.
Elpida, which filed for bankruptcy last month, aims to accept bids from new financial backers in May, according to the report.
The report indicates that Micron Technology Inc., which was reported to be in talks with Elpida for several weeks prior to the bankruptcy filing, is expected to make a bid. Intel Corp., the world's No. 1 chip vendor, is also a potential bidder, according to the report. Another potential bidder is Formosa Plastics Group, the parent company of Taiwanese DRAM vendor Nanya Technology Corp., according to the report.
Elpida plans to hold the first round of bidding before the end of this month and a second round next month, according to the report. Elpida hopes to complete its reconstruction and emerge from bankruptcy in July, according to the report.