MX

Magnachip Semiconductor Corporation

13.42
USD
2.84%
13.42
USD
2.84%
12.05 22.28
52 weeks
52 weeks

Mkt Cap 602.48M

Shares Out 44.89M

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Read Why Magnachip Shares Are Trading Higher Today

LX Group collaborated with the Carlyle Group private equity fund manager to propose a takeover offer for Magnachip Semiconductor Corp MX, a media reported. LX Group recently submitted a letter of intent to acquire Magnachip Semiconductor to JP Morgan in the United States. The industry valued Magnachip at $1.2 billion (1.5 trillion won). Magnachip agreed on a deal with a Chinese PEF at $1.4 billion (about 1.8 trillion won). The industry expects LX Group to raise $600 million and Carlyle Group to acquire Magnachip with $300 million. Magnachip, a mid-sized system semiconductor company, has negotiated with major domestic investors after negotiations with a Chinese investor failed last year. Magnachip was a spin-off of the former Hynix Semiconductor's non-memory division. The U.S. government blocked Magnachip's deal to sell with Wise Road Capital, a Chinese PEF, over national security concerns. Price Action: MX shares traded higher by 12.80% at $19.55 on the last check Wednesday.

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