On Friday, flash media maker Lexar Media (LEXR) gained the next revised takeover bid from Micron Know-how (MU). The revised bid locations the all-stock exchange give at http://www.bbc.co.uk/search?q=소액결제 all around $ten a share, up marginally from the Preliminary bid.
But big shareholders together with billionaire investor Carl Icahn as well as hedge cash and portfolio managers have considered the First bid being inappropriate. Elliott Associates thinks the First bid “noticeably undervalues Lexar,” and feels Lexar is really worth amongst $1.5 billion and $2.4 billion. The estimate is very well higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too low and ought to be turned down by shareholders. Micron really wants to pay back all-around one.10x gross sales for Lexar even though the market leader SanDisk (SNDK) is trading at 4.35x revenue. Lexar also has a $four hundred million patent infringement lawsuit versus Toshiba that it had Beforehand won but has become topic to an appeal by Toshiba.
Think it over in this way, An effective $four hundred million settlement in favor of Lexar would equate to close to $four.eighty three per share in additional hard cash so as to add to The existing $0.54 in no cost cash after personal debt that Lexar has. This means Micron would pay back lower than $5 a share for Lexars property, that is minimal.
You can find also speculation that SanDisk is seriously considering taking a run at obtaining Lexar. This might make sense due to the fact SanDisk would solidify its Management placement.
Moreover, SanDisk has a close Doing the job partnership with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Stay tune. A special shareholder Assembly to overview the takeover bid has become moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Dilemma is will 신용카드현금화 a white knight area?