On Friday, flash media maker Lexar Media (LEXR) gained the next revised http://www.bbc.co.uk/search?q=소액결제 takeover bid from Micron Engineering (MU). The revised bid areas the all-inventory exchange give at around $ten a share, up marginally in the First bid.
But important shareholders which includes billionaire Trader Carl Icahn coupled with hedge cash and portfolio supervisors have deemed the Original bid to generally be inappropriate. Elliott Associates believes the Original bid “noticeably undervalues Lexar,” and feels Lexar is well worth involving $1.five billion and $2.4 billion. The estimate is perfectly above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too reduced and should be rejected by shareholders. Micron wants to pay out about 1.10x sales for Lexar although the marketplace chief SanDisk (SNDK) is investing at 4.35x revenue. Lexar also provides a $four hundred million patent infringement lawsuit from Toshiba that it had Formerly received but has become subject to an enchantment by Toshiba.
Think it over this way, An effective $400 million settlement in favor of Lexar would equate to all around $four.eighty three for each share in extra money to add to the current $0.54 in no cost funds following debt that Lexar has. What this means is Micron would fork out below $five a share for Lexars assets, that's reduced.
You can find also speculation that SanDisk is very seriously thinking of having a operate at buying Lexar. This might make sense since SanDisk would solidify its Management position.
What's more, SanDisk has a detailed Performing connection with Toshiba, which could see SanDisk fall or lessen 정보이용료 the settlement if it managed to amass Lexar.
Remain tune. A Specific shareholder meeting to review the takeover bid has actually been moved to June sixteen. In my view, the $ten bid undervalues Lexar. Query is will a white knight surface?