On Friday, flash media maker Lexar Media (LEXR) been given a better revised takeover bid from Micron Know-how (MU). The revised bid sites the all-inventory Trade supply at all-around $10 a share, up marginally in the Preliminary bid.
But important shareholders which includes billionaire Trader Carl Icahn as well as hedge resources and portfolio supervisors have deemed the Preliminary https://www.washingtonpost.com/newssearch/?query=소액결제 bid being inappropriate. Elliott Associates believes the initial bid “noticeably undervalues Lexar,” and feels Lexar is worthy of in between $one.five billion and $two.4 billion. The estimate is properly previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way also low and ought to be rejected by shareholders. Micron would like to fork out about one.10x profits for Lexar although the marketplace leader SanDisk (SNDK) is trading at four.35x income. Lexar also contains a $400 million patent infringement lawsuit in opposition to Toshiba that it had previously gained but has become matter to an attractiveness by Toshiba.
Consider it this way, An effective $four hundred million settlement in favor of Lexar would equate 신용카드현금화 to about $four.eighty three for each share in added income to include to the current $0.fifty four in totally free cash just after debt that Lexar has. What this means is Micron would pay a lot less than $five a share for Lexars property, that's lower.
There is also speculation that SanDisk is severely contemplating having a run at obtaining Lexar. This could sound right considering that SanDisk would solidify its leadership posture.
Also, SanDisk has a close Operating romantic relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Keep tune. A Exclusive shareholder meeting to evaluation the takeover bid continues to be moved to June sixteen. In my check out, the $10 bid undervalues Lexar. Query is will a white knight surface?