On Friday, flash media maker Lexar Media (LEXR) obtained the next revised takeover bid from Micron Technology (MU). The revised bid areas the all-stock Trade give at about $10 a share, up marginally from the First bid.
But significant shareholders together with billionaire Trader Carl 신용카드현금화 Icahn in conjunction with hedge funds and portfolio supervisors have considered the Original bid to become inappropriate. Elliott Associates thinks the Preliminary bid “substantially undervalues Lexar,” and feels Lexar is well worth among $one.5 billion and $two.four billion. The estimate is well previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also lower and ought to be rejected by shareholders. Micron desires to spend close to 1.10x sales for Lexar though the industry leader SanDisk (SNDK) is investing at four.35x product sales. Lexar also features a $four hundred million patent infringement lawsuit versus Toshiba that it had previously won but is now matter to an enchantment by Toshiba.
Consider it in this manner, A prosperous $four hundred million settlement in favor of Lexar would equate to all over $4.eighty three per share in added money so as to http://www.thefreedictionary.com/소액결제 add to The present $0.fifty four in free of charge hard cash following financial debt that Lexar has. What this means is Micron would spend fewer than $five a share for Lexars assets, which can be very low.
There's also speculation that SanDisk is very seriously considering getting a operate at obtaining Lexar. This would sound right since SanDisk would solidify its Management situation.
Additionally, SanDisk has an in depth Functioning romantic relationship with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Keep tune. A Exclusive shareholder Conference to review the takeover bid is moved to June 16. In my view, the $ten bid undervalues Lexar. Dilemma is will a white knight area?