 SEOUL, South Korea, March 26, 2021 PRNewswire -- Magnachip Semiconductor Corporation Magnachip or the Company NYSE: MX, the South Korean leader in display and power solutions, today announced that it has entered into a definitive agreement the Agreement with 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. Under the terms of the Agreement, Magnachip shareholders will receive 29.00 in cash for each share of Magnachips common stock they currently hold, representing a premium of approximately 75 to Magnachips 3-month volume-weighted average share price and approximately a 54 premium to the unaffected closing stock price on March 2, 2021, the last trading day before media reports of third-party interest in acquiring Magnachip. 