US chipmaker Magnachip, Chinese PE firm Wise Road call off $1.4b merger

US chipmaker Magnachip, Chinese PE firm Wise Road call off $1.4b merger

Home-made chip Godson 3 on display at the second Fuzhou Digital China Construction Achievement Exhibition on May 7, 2019. Photo: VCG

Chinese private equity firm Wise Road Capital and U.S. chipmaker Magnachip Semiconductor Corp have terminated their $1.4 billion merger agreement struck in March, the companies said in a joint statement on Monday.