Brief: Magnachip And Wise Road Capital Announce Withdrawal Of CFIUS Filing And Mutual Termination Of Merger Agreement

MagnaChip Semiconductor

13/12/2021 22:34

Dec 13 (Reuters) - MagnaChip Semiconductor Corp  MX.N :
    * MAGNACHIP AND WISE ROAD CAPITAL ANNOUNCE WITHDRAWAL OF
CFIUS
FILING AND MUTUAL TERMINATION OF MERGER AGREEMENT
    * MAGNACHIP SEMICONDUCTOR CORP - ADOPTS LIMITED-DURATION
SHAREHOLDER RIGHTS PLAN
    * MAGNACHIP SEMICONDUCTOR CORP - IN CONNECTION WITH
TERMINATION OF
MERGER AGREEMENT, SOUTH DEARBORN WILL PAY COMPANY A TERMINATION
FEE OF $70.2 MILLION
    * MAGNACHIP SEMICONDUCTOR - INTENDS TO HAVE MAGNACHIP
SEMICONDUCTOR, LTD, KOREAN OPERATING SUBSIDIARY OF CO, WITHDRAW
ITS APPLICATION CONCERNING MERGER
    * MAGNACHIP SEMICONDUCTOR CORP - RIGHTS PLAN IS EFFECTIVE
IMMEDIATELY AND WILL EXPIRE ON DECEMBER 12, 2022
    * MAGNACHIP SEMICONDUCTOR - IN LIGHT OF TERMINATION, WILL BE
HOLDING A 2022 ANNUAL MEETING, DETAILS OF WHICH WILL BE PROVIDED
AS SOON AS PRACTICABLE
    * MAGNACHIP SEMICONDUCTOR CORP - TERMINATION OF MERGER
AGREEMENT
RESULTED FROM INABILITY OF PARTIES, TO OBTAIN CFIUS'S APPROVAL
FOR MERGER

Source text for Eikon:  ID:nPnbjwPJQa 
Further company coverage:  MX.N 

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