On Friday, flash media maker Lexar Media (LEXR) gained a higher revised takeover bid from Micron Technological know-how (MU). The revised bid sites the all-stock exchange offer at close to $10 a share, up marginally in the initial bid.
But major shareholders which includes billionaire investor Carl Icahn along with hedge funds and portfolio managers have deemed the Preliminary bid being inappropriate. Elliott Associates believes the Original bid “noticeably undervalues Lexar,” and feels Lexar is really worth amongst $1.five billion and $2.four billion. The estimate is well earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way much too minimal and needs to be turned down by shareholders. Micron really wants to fork out close to 1.10x income for Lexar even though the market leader SanDisk (SNDK) is trading at four.35x profits. Lexar also features a $400 million patent infringement lawsuit towards Toshiba that it had Beforehand gained but is now subject matter to an attractiveness by Toshiba.
Think about it in this manner, a successful $four http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 hundred million settlement in favor of Lexar would equate to all around $four.eighty three per share in further money to add to the current $0.54 in free of charge income right after debt that Lexar has. This means Micron would spend a lot less than $five a share for Lexars belongings, which happens to be very low.
There exists also speculation that SanDisk is critically pondering using a operate at attaining Lexar. This might sound right due to 신용카드현금화 the fact SanDisk would solidify its leadership placement.
What's more, SanDisk has an in depth Performing romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to acquire Lexar.
Keep tune. A special shareholder Conference to critique the takeover bid has been moved to June 16. In my perspective, the $ten bid undervalues Lexar. Problem is will a white knight surface area?