MX

Magnachip Semiconductor Corporation

15.06
USD
-0.07%
15.06
USD
-0.07%
14.66 24.36
52 weeks
52 weeks

Mkt Cap 676.11M

Shares Out 44.89M

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Magnachip jumps after report LX Group and Carlyle submitted bid

Magnachip (NYSE:MX) rose 15% in premarket trading on a report that South Korea's LX Group and private equity firm Carlyle (CG) jointed submitted a letter of intent for the chipmaker. South Korean PE fund Hahn & Co. and sensors manufacturer Littlefuse submitted letters of intent last month, according to a Maeil Business Newspaper. NVC Partners is said to also be interested in acquiring MX. The latest report comes after LX Group late last month confirmed a report to Bloomberg that it was considering an offer for Magnachip (MX). The comments came after Korea Economic Daily said South Korea's LX Group was looking to acquire the company. Magnachip (MX) and its planned buyer Wise Road in December mutually terminated a $1.4B transaction after failing to get U.S. national security approval for the deal.

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