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SK Hynix considers MagnaChip fab bid - report

Apr. 22, 2019 8:17 AM ETSK Hynix, Inc. (HXSCF) Stock, HXSCL Stock, MX StockMX, HXSCF, HXSCLBy: Brandy Betz, SA News Editor
  • 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.

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