 SEOUL, South Korea, June 11, 2021 PRNewswire -- Magnachip Semiconductor Corporation Magnachip or the Company NYSE: MX, the South Korean leader in display and power solutions, today confirmed receipt of an unsolicited proposal from Cornucopia Investment Partners on behalf of itself and a group of investors, including financial sponsors led by Mr. Tim Crown, Yango financial holdings, Sino-Rock Investment Management Company Limited and Lombarda China Fund, to acquire all of the outstanding shares of Magnachip common stock, par value 0.01 per share the Common Stock, for 35.00 per share in cash assuming the number of shares on a fully diluted basis at closing of the transaction will be 47,470,416, as shown in the Magnachips Form 10-Q filed on May 10, 2021 the Proposal. 