Filing Flows › Amkor Technology (AMKR) › Takeover & LBO
Is Amkor Technology (AMKR) a takeover target?
A leveraged buyout at today's price plus 30% ($42.61 a share) would return a loss of all the money the buyer puts in to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $17.60 a share (−46% against today's $32.78). Historically 1.3% of companies with its figures were bought within a year (0.27× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $42.61 | today's $32.78 plus 30% |
| × shares | 249.5 million | |
| = Equity value | $10.6B | |
| + Debt refinanced | $2.5B | |
| − Cash | $2.4B | |
| + Other claims | $36.5M | preferred stock, minority interests |
| = Enterprise value | $10.8B | 7.6× EBITDA of $1.4B |
| Fees | $215M | 2% of the price |
| New debt | $7.0B | 5.0× EBITDA at 7.65% a year; the limit that binds: 65% of the price |
| Buyer's own money | $4.0B | 36% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $8.1B | $1.5B | $535M | −$900M | $7.9B |
| Year 2 | $8.6B | $1.6B | $604M | −$980M | $8.9B |
| Year 3 | $9.1B | $1.7B | $679M | −$1.1B | $9.9B |
| Year 4 | $9.5B | $1.8B | $760M | −$1.1B | $11.1B |
| Year 5 | $9.7B | $1.8B | $847M | −$1.2B | $12.3B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 5.9× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $10.8B | |
| − Debt left | $12.3B | |
| = Buyer's equity | −$1.4B | |
| Money multiple | -0.36× | on $4.0B put in |
| Buyer's yearly return (IRR) | −100.0% |
Price against return
What the buyer makes at other premiums over today's $32.78; the IRR reaches 20% at $17.60 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $36.06 | −63.4% |
| 20% | $39.34 | −100.0% |
| 30% | $42.61 | −100.0% |
| 40% | $45.89 | −100.0% |
| 50% | $49.17 | −100.0% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $7.5B | |
| EBITDA, last 12 months | $1.4B | 18.9% of revenue |
| Depreciation and amortization | $703M | |
| Capital spending | $1.7B | |
| Debt | $2.5B | |
| Cash | $2.4B | |
| Share price | $32.78 | on Nov 6, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 12% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Amkor Technology would cost about $42.61 a share, $10.6B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $36.71 | $9.2B |
| Median | 30% | $42.61 | $10.6B |
| High end (a quarter paid more) | 31% | $42.94 | $10.7B |
The odds, from history
Historically 1.3% of companies with its figures were bought within a year (0.27× the average). Its figures put it in decile 1 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Amkor Technology's latest quarter
Amkor Technology, Q3 2026: revenue $2.0B (+0.2% year over year), operating margin 11.3%, net earnings $191M, operating cash flow $487M. The chart follows the revenue to costs, profit and cash.
Questions
Is Amkor Technology being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Amkor Technology?
A leveraged buyout at today's price plus 30% ($42.61 a share) would return a loss of all the money the buyer puts in to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $17.60 a share (−46% against today's $32.78).
What would a takeover of Amkor Technology cost?
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Amkor Technology would cost about $42.61 a share, $10.6B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.