A court in Tokyo has once again postponed the decision on whether to allow US firm Micron to slurp bankrupt DRAMmurai warrior Elpida Memory.
Micron agreed to rescue the firm back in July, offering $2.5bn (¥200bn, £1.6bn) to take it over. But bondholders claim that the offer is totally unfair and doesn't value Elpida highly enough, so they've put forward a competing plan for restructuring.
More ReadingTokyo court says Micron can wed Elpida, birth world No.2 chipmakerJapan's Renesas set for £1.6bn rescue planMem-giant Micron laments a doleful year despite cutting costsElpida stakeholders beg US courts: Stop Micron's cheap meal dealBondholders: US firm's 'rescue' offer for Elpida is CHEAP
The bondholder group want to give the chipmaker a loan of $383m (¥30bn, £238m) to start with and then get another financial sponsor to inject some more cash into the firm. A committee set up by the court needs to examine both the plans and make a recommendation.
The decision was supposed to come at the end of September, but the court has now said it needs until 29 October to make up its mind.
Elpida had to file for bankruptcy in February, stuck with debts of ¥448bn ($5.72bn, £3.55bn). ®