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/PRNewswire/ Magnachip Semiconductor Corporation ("Magnachip Corp." or the "Company") (NYSE: MX), the U.S. (Delaware) parent of Magnachip Semiconductor, Ltd..
Magnachip Enters into Definitive Agreement with Wise Road Capital in a Take Private Transaction Valued at $1.4 Billion
Apr 01, 2021 2:18 PM ET Legal Newswire POWERED BY LAW.COM
Magnachip Semiconductor Corporation , the South Korean leader in display and power solutions, today announced that it has entered into a definitive agreement (the Agreement ) with South Dearborn Limited, a company incorporated in the Cayman Islands, and Michigan Merger Sub, Inc., a Delaware corporation, which are investment vehicles established by Wise Road Capital LTD and certain of its limited partners ( Wise Road ).
Under the terms of the Agreement, Magnachip shareholders will receive $29.00 in cash for each share of Magnachip s common stock they currently hold, representing a premium of approximately 75% to Magnachip s 3-month volume-weighted average share price and approximately a 54% premium to the unaffected closing stock price on March 2, 2021, the last trading day before media reports of