Reuters: Bankruptcy News: Elpida bondholders offer $383 mln loan in alternative plan -source

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Elpida bondholders offer $383 mln loan in alternative plan -source Aug 14th 2012, 00:37 TOKYO | Mon Aug 13, 2012 8:37pm EDT TOKYO Aug 14 (Reuters) - A group of Elpida bondholders is offering to provide a loan of 30 billion yen ($383 million) to Elpida Memory as part of an alternative restructuring plan that will be presented to the Tokyo District Court on Tuesday, a source familiar with the matter told Reuters. Elpida, Japan's last remaining player in the dynamic random access memory (DRAM) market, filed for bankruptcy protection in February. A group of Elpida Memory bondholders opposed a plan last month by U.S.-based Micron Technology Inc to acquire the bankrupt chipmaker for $750 million, arguing it undervalues the company's assets.

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