On Friday, flash media maker Lexar Media (LEXR) received an increased revised takeover bid from Micron Know-how (MU). The revised bid spots the all-stock exchange offer at close to $10 a share, up marginally from the Preliminary bid.
But significant shareholders together with billionaire investor Carl Icahn coupled with hedge resources and portfolio supervisors have 소액결제정책 deemed the First bid to become inappropriate. Elliott Associates believes the Preliminary bid “substantially undervalues Lexar,” and feels Lexar is truly worth concerning $1.5 billion and $two.four billion. The estimate is perfectly above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way way too lower and really should be turned down by shareholders. Micron really wants to pay all over one.10x sales for Lexar although the marketplace leader SanDisk (SNDK) is investing at 4.35x profits. Lexar also incorporates a $400 million patent infringement lawsuit in opposition to Toshiba that it had Formerly gained but is now subject matter to an attractiveness by Toshiba.
Give it some thought 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 around $4.83 for each share in supplemental income to include to the current $0.54 in totally free money soon after financial debt that Lexar has. What this means is Micron would pay a lot less than $5 a share for Lexars assets, which is very low.
There exists also speculation that SanDisk is very seriously contemplating using a operate at buying Lexar. This might make sense due to the fact SanDisk would solidify its leadership placement.
What's more, SanDisk has a close Performing romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Remain tune. A Particular shareholder Assembly to assessment the takeover bid continues to be moved to June 16. In my see, the $ten bid undervalues Lexar. Question is will a white knight floor?