On Friday, flash media maker Lexar Media (LEXR) been given a better revised takeover bid from Micron Technological know-how (MU). The revised bid areas the all-inventory exchange supply at around $10 a share, up marginally from your Preliminary bid.
But important shareholders which include billionaire investor Carl Icahn in addition to hedge cash and portfolio managers have considered the Original bid being inappropriate. Elliott Associates thinks the initial bid “considerably undervalues Lexar,” and feels Lexar is truly worth between $1.five billion 정보이용료 and $two.4 billion. The estimate is perfectly previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too lower and really should be turned down by shareholders. Micron really wants to fork out close to 1.10x revenue for Lexar when the marketplace leader SanDisk (SNDK) is buying and selling at four.35x product sales. Lexar also incorporates a $400 million patent infringement lawsuit against Toshiba that it had Formerly gained but is currently subject to an attractiveness by Toshiba.
Think about it this fashion, a successful $four hundred million settlement in favor of Lexar would equate to around $four.eighty three for each share in supplemental funds to add to the current $0.fifty four in cost-free cash right after financial debt that Lexar has. This suggests Micron would pay out less http://www.bbc.co.uk/search?q=소액결제 than $five a share for Lexars belongings, that is lower.
You can find also speculation that SanDisk is critically contemplating using a operate at attaining Lexar. This could make sense considering that SanDisk would solidify its leadership situation.
Additionally, SanDisk has an in depth Performing relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Remain tune. A special shareholder Assembly to evaluation the takeover bid has been moved to June sixteen. In my view, the $ten bid undervalues Lexar. Question is will a white knight floor?