On Friday, flash media maker Lexar Media (LEXR) obtained an increased revised takeover bid from Micron Technological know-how (MU). The revised bid areas the all-inventory exchange offer at close to $ten a share, up marginally from your initial bid.
But important shareholders which include billionaire Trader Carl Icahn together with hedge cash and portfolio professionals have deemed the Preliminary bid to become inappropriate. Elliott Associates thinks the First bid “noticeably http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 undervalues Lexar,” and feels Lexar is really worth among $1.5 billion and $2.4 billion. The estimate is effectively above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way much too low and should be turned down by shareholders. Micron wishes to shell out about one.10x revenue for Lexar whilst the market chief SanDisk (SNDK) is trading at four.35x revenue. Lexar also includes a $400 million patent infringement lawsuit in opposition to Toshiba that it had Beforehand won but is now subject to an attractiveness by Toshiba.
Think it over using this method, A prosperous $400 million settlement in favor of Lexar would equate to around $four.83 for each share in further money to add to The existing $0.54 in free of charge money immediately after personal debt that Lexar has. This 신용카드현금화 suggests Micron would pay back below $five a share for Lexars assets, that is lower.
You can find also speculation that SanDisk is severely serious about having a run at obtaining Lexar. This may sound right since SanDisk would solidify its leadership position.
What's more, SanDisk has a detailed Performing connection with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Stay tune. A Distinctive shareholder Conference to overview the takeover bid continues to be moved to June sixteen. In my see, the $10 bid undervalues Lexar. Dilemma is will a white knight surface?