Thursday, January 15, 2009

Spansion Looks For Buyer

Sunnyvale-based Spansion, a manufacturer of flash memory products, said today that it has hired on an investment banker and is looking to merge or sell itself to another company. The firm said it has been "exploring strategic alternatives" and is looking at opportunities to merge with, or sell itself to similar U.S. or foreign businesses. The firm said Barclays Capital is working with the firm on the effort. The firm also said, in a related move, it is looking to restructure its balance sheet, and is delaying interest payments on Senior Notes issued by the company.