On Friday, flash media maker Lexar Media (LEXR) obtained a greater revised takeover bid from Micron Technology (MU). The revised bid spots the all-inventory Trade provide at about $ten a share, up marginally from the First bid.
But important shareholders which include billionaire Trader Carl Icahn along with hedge resources and portfolio administrators have considered the First bid to become inappropriate. Elliott Associates believes the initial bid “substantially undervalues Lexar,” and feels Lexar is well worth among $1.five billion and $two.four 신용카드현금화 billion. The estimate is effectively higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too low and must be turned down by shareholders. Micron desires to pay back all-around one.10x sales for Lexar whilst the market chief SanDisk (SNDK) is buying and selling at four.35x sales. Lexar also provides a $400 million patent infringement lawsuit towards Toshiba that it had Earlier gained but has become subject to an attraction by Toshiba.
Think it over using this method, a successful $four hundred million settlement in favor of Lexar would equate to all over $4.83 per share in additional funds to add to The existing $0.54 in free of charge funds just after personal debt that Lexar has. This suggests Micron would spend a lot less than $five a share for Lexars belongings, which happens to be lower.
There is also speculation that SanDisk is seriously thinking of getting a operate at https://en.search.wordpress.com/?src=organic&q=소액결제 obtaining Lexar. This might seem sensible since SanDisk would solidify its leadership situation.
Also, SanDisk has a detailed Operating relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to acquire Lexar.
Keep tune. A Distinctive shareholder Conference to assessment the takeover bid continues to be moved to June sixteen. In my watch, the $ten bid undervalues Lexar. Dilemma is will a white knight floor?