Read Why Magnachip Shares Are Trading Higher Today

Loading...
Loading...
  • LX Group collaborated with the Carlyle Group private equity fund manager to propose a takeover offer for Magnachip Semiconductor Corp MXa 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). 
  • Also Read: Magnachip Goes Private In $1.4B All Cash Deal
  • 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.
Posted In: M&ANewsSmall CapMoversTechMediaTrading IdeasBriefswhy it's moving

Loading...