On Friday, flash media maker Lexar Media (LEXR) gained a greater revised takeover bid from Micron Technological know-how (MU). The revised bid spots the all-stock exchange offer you at around $ten a share, up marginally within the First bid.
But significant shareholders including billionaire investor Carl Icahn along with hedge funds and portfolio administrators have deemed the First bid being inappropriate. Elliott Associates thinks the initial bid “appreciably undervalues Lexar,” and feels Lexar is worthy of concerning $one.five billion and $2.four billion. The estimate is perfectly over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too low and should be turned down by shareholders. Micron wants to shell out all around one.10x income for Lexar though the marketplace chief SanDisk (SNDK) is trading at 4.35x sales. Lexar also has a $four hundred million patent infringement lawsuit from Toshiba that it had Earlier received but is currently subject matter to an charm by Toshiba.
Consider it this way, A prosperous $four hundred million settlement in favor of Lexar would equate to all over $4.83 for every share in added dollars to incorporate to the current $0.fifty four in totally free hard cash following financial debt that Lexar has. This means Micron would spend fewer than $five a share for Lexars assets, and that is lower.
There may be also speculation that SanDisk is severely thinking of taking a operate at buying Lexar. This would make sense because SanDisk would solidify its leadership position.
Moreover, SanDisk has a detailed Doing the job romance with Toshiba, which could see SanDisk 신용카드현금화 drop or decrease the settlement if it managed to amass Lexar.
Continue to be tune. A Unique shareholder Conference to review the takeover bid is moved to June 16. In my watch, the $ten bid undervalues Lexar. Query is http://www.bbc.co.uk/search?q=소액결제 will a white knight area?