Reuters: Market News: SK hynix says submitted bid interest for Japan's Elpida

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SK hynix says submitted bid interest for Japan's Elpida Mar 30th 2012, 06:33 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.

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