Read Why Magnachip Shares Are Trading Higher Today By Benzinga

• LX Group collaborated with the Carlyle Group (NASDAQ:) private equity fund manager to propose a takeover offer for Magnachip Semiconductor Corp (NYSE: 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).
• 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.

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