Hynix Submits Initial Proposal to Bid for Elpida

Hynix Semiconductor Inc., the world’s second-largest maker of computer memory chips, submitted an initial proposal to bid for Elpida Memory Inc., the Japanese chipmaker that filed for bankruptcy last month.

The South Korean company will decide whether to make a final bid after due diligence, it said in a regulatory filing today. Toshiba Corp. also was considering a bid, a senior executive for the Tokyo-based company said today, asking not to be identified because the discussions are private.