Spansion up for grabs
Flash memory chip specialist, Spansion, is in the process of seeking a merger or sale.
Following a long string of losses, the company has announced that it has been ‘exploring strategic alternatives including, but not limited to, opportunities to merge with or sell to similar US or foreign businesses’.
Spansion has engaged Barclays Capital to assist in seeking ‘strategic alternatives’ and it has initiated discussions to begin an ‘organised process of potential balance sheet restructuring opportunities’. It has also been revealed that the business will delay making interest payments on its outstanding 11.25% senior notes due 2016, which is due January 15th.
