On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technological know-how (MU). The revised bid areas the all-stock Trade offer you at all-around $10 a share, up marginally within the Preliminary bid.
But significant shareholders which includes billionaire investor Carl Icahn as well as hedge cash and portfolio supervisors have deemed the initial bid to be inappropriate. Elliott Associates thinks the initial bid “noticeably undervalues Lexar,” and feels Lexar is really worth amongst $one.5 billion and $2.4 billion. The estimate is very well above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too small and really should be turned down by shareholders. Micron really 신용카드현금화 wants to shell out all-around one.10x income for Lexar even though the market chief SanDisk (SNDK) is trading at 4.35x revenue. Lexar also includes a $four hundred million patent infringement lawsuit versus Toshiba that it had Beforehand won but is currently issue to an charm by Toshiba.
Think about it in this manner, A prosperous $400 million settlement in favor of Lexar would http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 equate to close to $4.83 for each share in more dollars to incorporate to The present $0.54 in free cash just after financial debt that Lexar has. This implies Micron would shell out less than $five a share for Lexars assets, which happens to be reduced.
There may be also speculation that SanDisk is very seriously contemplating getting a run at acquiring Lexar. This might sound right since SanDisk would solidify its leadership placement.
What's more, SanDisk has a detailed Doing work partnership with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Continue to be tune. A Specific shareholder Conference to critique the takeover bid has been moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Concern is will a white knight floor?