On Friday, flash media maker Lexar Media (LEXR) been given the next revised takeover bid from Micron Know-how (MU). The revised bid sites the all-stock exchange present at close to $10 a share, up marginally from your First bid.
But key shareholders like billionaire Trader Carl Icahn in conjunction with hedge funds and portfolio managers have considered the Original bid being inappropriate. Elliott Associates thinks the First bid “appreciably undervalues Lexar,” and feels Lexar is value involving $one.5 billion and $2.four billion. The estimate is properly above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too small and really should be rejected by shareholders. Micron really wants to pay close to one.10x gross sales for Lexar whilst the market leader SanDisk (SNDK) is buying and selling at four.35x income. 신용카드현금화 Lexar also contains a $400 million patent infringement lawsuit against Toshiba that it had Formerly received but has become issue to an charm by Toshiba.
Think it over this way, a successful $four hundred million settlement in favor of Lexar would equate to around $4.83 for each share in further hard cash so as to add to The existing $0.fifty four in free of charge income after financial debt that Lexar has. This suggests Micron would fork out below $5 a share for Lexars property, which happens to be small.
You can find also speculation that SanDisk is seriously considering getting a run at buying Lexar. This is able to seem sensible considering the fact that SanDisk would solidify its leadership place.
In addition, SanDisk has a detailed Functioning romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar. http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제
Continue to be tune. A Exclusive shareholder Conference to evaluate the takeover bid continues to be moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Dilemma is will a white knight area?