On Friday, flash media maker Lexar Media (LEXR) obtained the next revised takeover bid from Micron Engineering (MU). The revised bid spots the all-inventory Trade give at close to $ten a share, up marginally from your initial bid.
But main shareholders which include billionaire Trader Carl Icahn together with hedge resources and portfolio administrators have deemed the initial bid for being inappropriate. Elliott Associates thinks the Original bid “drastically undervalues Lexar,” and feels Lexar is well worth concerning $1.five billion and $two.4 billion. The estimate is properly earlier mentioned the revised takeover bid http://www.bbc.co.uk/search?q=소액결제 of about $827 million.
I must concur and say the revised takeover bid is way too low and really should be turned down by shareholders. Micron wishes to shell out about 1.10x sales for Lexar although the industry chief SanDisk (SNDK) is buying and selling at 4.35x income. Lexar also features a $400 million patent infringement lawsuit from Toshiba that it had previously gained but has become subject to an attraction by Toshiba.
Give it some thought this way, A prosperous $four hundred million settlement in favor of Lexar would equate to all-around $4.83 per share in more cash to incorporate to The present $0.fifty four in free of charge income following debt that Lexar has. This suggests Micron would spend under $5 a share for Lexars belongings, which happens to be minimal.
There may be also speculation that SanDisk is critically thinking of using a run at 신용카드현금화 getting Lexar. This might make sense since SanDisk would solidify its Management placement.
In addition, SanDisk has a detailed Doing work connection with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to accumulate Lexar.
Stay tune. A Unique shareholder meeting to evaluate the takeover bid is moved to June sixteen. In my check out, the $10 bid undervalues Lexar. Question is will a white knight floor?