Reports from South Korea say that MagnaChip received a letter of intent (LOI) from the LX Group to acquire the company. According to the article, the deal price is around $1.2 billion, or $26.50 per share. However, these buyout figures are likely to change in the weeks ahead. We expect a deal price between $25 - $30 per share to be announced soon. Once a deal is announced it will need to go through the regulatory approval process.