On Friday, flash media maker Lexar Media (LEXR) received an increased revised takeover bid from Micron Engineering (MU). The revised bid locations the all-stock exchange offer you at about $ten a share, up marginally with the Preliminary bid.
But main shareholders like billionaire https://en.wikipedia.org/wiki/?search=소액결제 Trader Carl Icahn in addition to hedge funds and portfolio professionals have considered the First bid for being inappropriate. Elliott Associates believes the First bid “substantially undervalues Lexar,” and feels Lexar is worth amongst $1.five billion and $2.4 billion. The estimate is very well higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way as well very low and really should be rejected by shareholders. Micron desires to spend around 1.10x revenue for Lexar whilst the industry chief SanDisk (SNDK) is investing at four.35x gross sales. Lexar also includes a $400 million patent infringement lawsuit towards Toshiba that it had Earlier received but is currently matter to an attraction by Toshiba.
Give it some thought in this way, A prosperous $four hundred million settlement in favor of Lexar would equate to close to $4.eighty three for every share in supplemental money to incorporate to The existing $0.fifty four in free of charge hard cash following credit card debt that Lexar has. This implies Micron would spend fewer than $five a share for Lexars belongings, which is very low.
There exists also speculation that SanDisk is significantly pondering taking a run 신용카드현금화 at acquiring Lexar. This might seem sensible given that SanDisk would solidify its Management placement.
What's more, SanDisk has an in depth Functioning romance with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Keep tune. A Exclusive shareholder Assembly to review the takeover bid is moved to June sixteen. In my see, the $10 bid undervalues Lexar. Question is will a white knight surface area?