On Friday, flash media maker Lexar Media (LEXR) acquired an increased revised takeover bid from Micron Technological know-how (MU). The revised bid areas the all-stock Trade supply at close 소액결제정책 to $ten a share, up marginally through the initial bid.
But major shareholders like billionaire Trader Carl Icahn along with hedge funds and portfolio administrators have considered the Preliminary bid for being inappropriate. Elliott Associates thinks the Original bid “substantially undervalues Lexar,” and feels Lexar is truly worth amongst $1.5 billion and $2.four billion. The estimate is effectively earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too small and must be rejected by shareholders. Micron wishes to pay back all around 1.10x profits for Lexar though the industry chief SanDisk (SNDK) is investing at four.35x income. Lexar also features a $four hundred million patent infringement lawsuit towards Toshiba that it experienced Formerly won but is now subject to an charm by Toshiba.
Give it some thought this fashion, A prosperous $four hundred million settlement in favor of Lexar would equate to close to $4.83 for each share in supplemental hard cash to incorporate to The existing $0.fifty four in no cost funds after personal debt that Lexar https://www.washingtonpost.com/newssearch/?query=소액결제 has. This means Micron would shell out less than $5 a share for Lexars property, which is very low.
You can find also speculation that SanDisk is very seriously thinking of getting a operate at obtaining Lexar. This is able to sound right considering the fact that SanDisk would solidify its Management situation.
In addition, SanDisk has a close Doing the job marriage with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to accumulate Lexar.
Continue to be tune. A Distinctive shareholder meeting to evaluate the takeover bid has actually been moved to June sixteen. In my look at, the $ten bid undervalues Lexar. Issue is will a white knight surface?