Interloper Lobs $1.66B Bid At South Korean Chipmaker

Law360 (June 11, 2021, 2:10 PM EDT) -- Magnachip said Friday it's mulling a competing takeover offer from Cornucopia Investment Partners worth roughly $1.66 billion, an interloping bid aimed at topping a previously announced $1.4 billion private equity buyout of the South Korean semiconductor company.

The new, unsolicited offer from Cornucopia Investment Partners was made on behalf of itself and a group of investors that includes backers like Yango financial holdings, Sino-Rock Investment Management Co. Ltd. and Lombarda China Fund, according to a statement from Magnachip Semiconductor Corp.

Under the terms of the proposal, the investor group would pay $35 per Magnachip share, or $6 per share more than...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!