- SK Hynix (OTC:HXSCF,OTC:HXSCL) could bid on MagnaChip’s (NYSE:MX) foundry business and a fab in Cheongju, South Korea, according to Reuters sources.
- SK will compete with Chinese companies if it decides to bid on the foundry, which counts Brigade Capital among its backers.
- In February, MagnaChip said it was undertaking a strategic review of the foundry business and fab with the options including a JV, strategic partnerships, and M&A.
- Local media reports put the value of the MagnaChip businesses at $300M.