On Friday, flash media maker Lexar Media (LEXR) received a better revised takeover bid from Micron Know-how (MU). The revised bid areas the all-stock Trade supply at close to $10 a share, up marginally with the First bid.
But significant shareholders including billionaire investor Carl Icahn along with hedge resources and portfolio professionals have considered the Preliminary bid to become inappropriate. Elliott Associates believes the First bid “appreciably undervalues Lexar,” and feels Lexar is really worth amongst $one.5 billion 소액결제현금화 and $two.4 billion. The estimate is very well over the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way as well reduced and has to be turned down by shareholders. Micron really wants to pay back around 1.10x sales for Lexar although http://www.bbc.co.uk/search?q=소액결제 the marketplace chief SanDisk (SNDK) is trading at 4.35x product sales. Lexar also contains a $four hundred million patent infringement lawsuit in opposition to Toshiba that it had Earlier gained but is now issue to an attraction by Toshiba.
Consider it in this way, A prosperous $four hundred million settlement in favor of Lexar would equate to all around $four.83 for each share in further income so as to add to The existing $0.fifty four in free money right after credit card debt that Lexar has. This means Micron would pay fewer than $5 a share for Lexars assets, which is reduced.
There is certainly also speculation that SanDisk is critically serious about getting a operate at buying Lexar. This might make sense because SanDisk would solidify its leadership place.
Furthermore, SanDisk has a close Functioning romance with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Remain tune. A Exclusive shareholder Assembly to assessment the takeover bid is moved to June 16. In my see, the $ten bid undervalues Lexar. Question is will a white knight floor?