M&A · Tech · Semiconductors & Related Devices
Wise Road Capital to acquire Magnachip Semiconductor Corp
Announced Mar 26, 2021 · Terminated Dec 14, 2021
Deal value$1.40BEV $1.14B
Premium54.0%To unaffected price
EV / Adj. EBITDA22.7x2.3x EV / Revenue
ConsiderationAll cash$29.00 per share
Transaction
- Acquirer
- Wise Road Capital
- Target
- Magnachip Semiconductor Corp (MX)
- Buyer type
- Strategic
- Offer price per share
- $29.00
- Enterprise value
- $1.14B
- Status
- Terminated Dec 14, 2021
Deal protections
- Break fee (target pays)
- $42.1M · 3.0%
- Reverse fee (buyer pays)
- $105M · 7.5%
- Go-shop
- No-shop
- Financing
- Committed · BMO Capital Markets
Advisors
- To the acquirer
- BMO Capital Markets
- To the target
- JPMorgan
Sector context · Tech
- Comparable deals
- 26 in the prior 24 months
- Premium
- 54.0% vs. 33.0% sector median
- EV / Adj. EBITDA
- 22.7x vs. 17.3x sector median
- Break fee
- 3.0% vs. 2.8% sector median
Timeline
- AnnouncedMar 26, 2021
- Proxy filedApr 19, 2021
- Definitive proxyMay 7, 2021
- Shareholder vote—
- TerminatedDec 14, 2021