Magnachip and Wise Road Capital Announce Withdrawal of CFIUS Filing and Mutual Termination of Merger Agreement
SEOUL, South Korea, Dec. 13, 2021 /PRNewswire/ -- Magnachip Semiconductor Corporation ("Magnachip Corp." or the "Company") (NYSE:MX), the U.S. (Delaware) parent of Magnachip Semiconductor, Ltd., and South Dearborn Limited, a company incorporated in the Cayman Islands, and Michigan Merger Sub, Inc., a Delaware corporation, which are investment vehicles established by Wise Road Capital LTD and certain of its limited partners ("Wise Road"), today announced that they received permission from the Committee on Foreign Investment in the United States ("CFIUS") to withdraw their joint CFIUS filing in relation to their proposed transaction (the "Merger") and will be terminating their previously annou
