On Friday, flash media maker Lexar Media (LEXR) acquired a greater revised takeover bid from Micron Technologies (MU). The revised bid spots the all-stock exchange supply at around $10 a share, up marginally within the Original bid.
But significant shareholders like billionaire Trader Carl Icahn as well as hedge funds and portfolio supervisors have considered the initial bid to be inappropriate. Elliott Associates believes the Original bid “appreciably undervalues Lexar,” and feels Lexar is really worth amongst $one.5 billion and $2.4 billion. The estimate 신용카드현금화 is very well higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way much too lower and should be turned down by shareholders. Micron would like to pay back about one.10x profits for Lexar although the market leader SanDisk (SNDK) is investing at four.35x profits. Lexar also provides a $four hundred million patent infringement http://www.thefreedictionary.com/소액결제 lawsuit towards Toshiba that it had Earlier won but is currently subject matter to an charm by Toshiba.
Consider it this way, a successful $400 million settlement in favor of Lexar would equate to all-around $four.eighty three for each share in supplemental funds to incorporate to The existing $0.54 in cost-free income just after credit card debt that Lexar has. This implies Micron would spend below $five a share for Lexars assets, that is small.
You can find also speculation that SanDisk is significantly pondering taking a operate at obtaining Lexar. This would make sense considering the fact that SanDisk would solidify its leadership placement.
Also, SanDisk has a detailed Performing romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Keep tune. A Particular shareholder meeting to critique the takeover bid is moved to June 16. In my watch, the $10 bid undervalues Lexar. Question is will a white knight area?