Magnachip jumps after report LX Group and Carlyle submitted bid

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  • Magnachip (NYSE:MX) rose 15% in premarket trading on a report that South Korea's LX Group and private equity firm Carlyle (CG) jointly submitted a letter of intent for the chipmaker.
  • South Korean PE fund Hahn & Co. and sensors manufacturer Littlefuse submitted letters of intent last month, according to a Maeil Business Newspaper. NVC Partners is said to also be interested in acquiring MX.
  • The latest report comes after LX Group late last month confirmed a report to Bloomberg that it was considering an offer for Magnachip (MX).
  • The comments came after Korea Economic Daily said South Korea's LX Group was looking to acquire the company.
  • Magnachip (MX) and its planned buyer Wise Road in December mutually terminated a $1.4B transaction after failing to get U.S. national security approval for the deal.

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