On Friday, flash media maker Lexar Media (LEXR) obtained a greater revised takeover bid from Micron Technological innovation (MU). The revised bid destinations the all-inventory exchange supply at all over $10 a share, up marginally in the initial bid.
But key shareholders together with billionaire investor Carl Icahn in conjunction with hedge funds and portfolio administrators have considered the Preliminary bid to become inappropriate. Elliott Associates believes the First bid “significantly undervalues Lexar,” and feels Lexar is worthy of concerning $1.five billion and $2.4 billion. The estimate is very well higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way way too very low and should be turned down by shareholders. Micron wants to pay close to one.10x profits for Lexar whilst the https://en.wikipedia.org/wiki/?search=소액결제 market chief SanDisk (SNDK) is investing at four.35x product sales. Lexar also has a $400 million patent infringement lawsuit in opposition to Toshiba that it experienced Formerly received but has become issue to an charm by Toshiba.
Give it some thought in this manner, A prosperous $400 million settlement in favor of Lexar would equate to all over $4.eighty three per share in further dollars so as to add to the current $0.fifty four in absolutely free hard cash just after financial debt that Lexar has. What this means is Micron would shell out a lot less than $five a share for Lexars property, which happens to be reduced.
You can find also 신용카드현금화 speculation that SanDisk is severely thinking about getting a operate at buying Lexar. This might sound right considering the fact that SanDisk would solidify its Management placement.
Furthermore, SanDisk has a close working partnership with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Stay tune. A special shareholder Conference to evaluation the takeover bid is moved to June 16. In my look at, the $ten bid undervalues Lexar. Problem is will a white knight surface area?