Reuters: Private Equity: SK hynix says drops bid for Japan's Elpida

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SK hynix says drops bid for Japan's Elpida May 4th 2012, 03:39 SEOUL | Thu May 3, 2012 11:39pm EDT SEOUL May 4 (Reuters) - South Korean chipmaker SK hynix said on Friday it had dropped its bid for Japan's troubled Elpida Memory Inc after participating in the initial round of the auction. The firm did not elaborate on why it decided to withdraw. U.S.-based Micron Technology and SK hynix were among a handful of chipmakers and funds that have shown interest in Elpida.

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