Wise Road’s $1.4 Billion Acquisition of Magnachip Semiconductor Corporation

Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Magnachip Semiconductor Corporation, while Debevoise & Plimpton LLP advised J.P. Morgan Securities LLC as financial advisor to Magnachip in the transaction.

The South Korea-based Magnachip Semiconductor Corporation executed its $1.4 billion take-private sale to investment vehicles established by Wise Road Capital LTD and certain of its limited partners.

Under the terms of the deal, which is fully backed by equity commitments, Magnachip shareholders will receive $29.00 in cash for each share of Magnachip’s common stock. The transaction is expected to close during the second half of 2021, subject to customary closing conditions and regulatory approvals.

Magnachip is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, Internet of Things (“IoT”), consumer, industrial and automotive applications.

Wise Road is a global private equity firm that invests in leading technology companies.

The Paul, Weiss team advising Magnachip included M&A partners Ross Fieldston (Picture) and Jeffrey Marell and counsel Andrea Quek; corporate partner Greg Liu and counsel Ellen Mao; securities partner David Huntington; financing partner Caith Kushner and counsel Sophia Gui; intellectual property partner Jonathan Ashtor; executive compensation partner Lawrence Witdorchic and counsel Uri Horowitz; litigation partners Jacqueline Rubin and Alex Oh and counsel Steven Herzog; tax partner David Mayo; real estate partner Peter Fisch; international trade counsel Richard Elliott; antitrust counsel Yuni Sobel; and environmental counsel William O’Brien.

The Debevoise team advising J.P. Morgan Securities was led by M&A partners Michael Diz and Sue Meng and included associates Lunar Mai and Dominique Trudelle.

Involved fees earner: Michael Diz – Debevoise & Plimpton; Lunar Mai – Debevoise & Plimpton; Sue Meng – Debevoise & Plimpton; Dominique Trudelle – Debevoise & Plimpton; Jonathan Ashtor – Paul Weiss Rifkind Wharton & Garrison; Richard Elliott – Paul Weiss Rifkind Wharton & Garrison; Ross Fieldston – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Xuan Gui – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Uri Horowitz – Paul Weiss Rifkind Wharton & Garrison; David Huntington – Paul Weiss Rifkind Wharton & Garrison; Caith Kushner – Paul Weiss Rifkind Wharton & Garrison; Xiaoyu Greg Liu – Paul Weiss Rifkind Wharton & Garrison; Ellen Mao – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; David Mayo – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Alex Oh – Paul Weiss Rifkind Wharton & Garrison; Andrea Quek – Paul Weiss Rifkind Wharton & Garrison; Jacqueline Rubin – Paul Weiss Rifkind Wharton & Garrison; Yuni Sobel – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Debevoise & Plimpton; Paul Weiss Rifkind Wharton & Garrison;

Clients: J.P. Morgan Securities LLC; MagnaChip Semiconductor, Ltd.;

Author: Martina Bellini