According to Reuters, the three have been seen locked in intense discussions in a smoke filled room trying to iron out a deal that they can all live with.
The big idea is to spin off their system chip design and development divisions, with production to be transferred to GlobalFoundries which wants to set up a company in Japan.
It looks like the government’s investment fund, Innovation Network, will be helping out by providing lots of cash for the project.
The Nikkei claims that Elpida executives and GlobalFoundries would meet this week to discuss a possible sale of Elpida’s Hiroshima factory.
Elpida has said that elements of the report were not true, but did not point out what.