On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Technology (MU). The revised bid areas the all-inventory Trade give at around $10 a share, up marginally with the initial bid.
But major shareholders like billionaire investor Carl Icahn in conjunction with hedge resources and portfolio professionals have considered the First bid to become inappropriate. Elliott Associates believes the Original bid “substantially undervalues Lexar,” and feels Lexar is well worth between $one.five billion and $2.4 billion. The estimate is perfectly over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too reduced and ought to be turned down by shareholders. Micron desires to shell out all-around 1.10x profits for Lexar though the industry leader SanDisk (SNDK) is buying and selling at 4.35x gross sales. Lexar also features a $four hundred million patent infringement lawsuit against Toshiba that it had Formerly received but is now issue to an appeal by Toshiba.
Think it over using this method, An effective $400 million settlement in favor of Lexar would equate to all-around $four.eighty three for each share in added funds to add to the current $0.fifty four in totally free income just after personal debt that Lexar 소액결제정책 has. This implies Micron would shell out under $five a share for Lexars property, which is low.
There may be also speculation that SanDisk is critically contemplating taking a operate at attaining Lexar. This may seem sensible because SanDisk would solidify its Management situation.
Also, SanDisk has a close Performing connection with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Keep http://www.bbc.co.uk/search?q=소액결제 tune. A Exclusive shareholder Conference to overview the takeover bid has become moved to June 16. In my look at, the $10 bid undervalues Lexar. Concern is will a white knight floor?