SAN FRANCISCO—Toshiba Corp. no longer plans to bid for a stake in fellow Japanese chip vendor Elpida Memory Inc., according to a Reuters news service report that cites two Japanese newspapers as its source.
Toshiba, which got out of the DRAM business several years ago, was urged by the Japanese government to invest in Elpida earlier this year, prior to Elpida filing for bankruptcy in February. Toshiba reportedly declined, but last week, Japan's Nikkei newspaper reported that the firm would bid for Elpida.
Reuters reported Thursday (April 5) that Japan's Asahi and Mainichi newspapers reported that Toshiba would exit the bidding. The newspapers did not provide specifics, Reuters said.
According to a separate Reuters report, also citing unnamed sources, Toshiba approached South Korea's SK Hynix Inc. about the possibility of the two companies making a joint bid for Elpida. According to the Reuters report, Micron Technology Inc., Hynix and an investment firm all put in second-round bids for Elpida after Toshiba opted out.