Why MagnaChip Semiconductor Stock Is Soaring Today
Shares of MagnaChip Semiconductor (NYSE: MX) were skyrocketing this morning on a report that LX Group is looking to acquire the company, according to the Korea Economic Daily website.
The tech stock was up by 17.6% as of 11:17 a.m. ET on Tuesday.
According to the news report, LX Group, a South Korean company, will make a formal bid to acquire MagnaChip as early as next week, though the details of the potential deal haven't been disclosed.
Source Fool.com
