Vertical Divider

CFIUS Confirms Security Risk; MagnaChip Purchase Rejected
 
The CFIUS stated that "It has confirmed the national security risks that may arise in the United States from the acquisition of MagnaChip by the Chinese private equity fund". This pretty much cancels the potential acquisition. It is reported that Magnachip received an alternative offer from British private equity fund company Cornucopia, and that the company is now accepted to look into that offer - which is actually higher than the Wise Road Capital deal, at $1.66 billion. Earlier this month MagnaChip reported its financial results for Q2 2021, with display revenues "negatively impacted by severe supply constraints that continued to deepen in the second quarter".