On Friday, flash media maker Lexar Media (LEXR) received the next revised takeover bid from Micron Technologies (MU). The revised bid locations the all-inventory Trade supply at close to $ten a share, up marginally from your First http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 bid.
But significant shareholders together with billionaire investor Carl Icahn as well as hedge cash and portfolio managers have deemed the First bid being inappropriate. Elliott Associates believes the Preliminary bid “appreciably undervalues Lexar,” and feels Lexar is really worth among $1.5 billion and $2.4 billion. The estimate is effectively previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way as well reduced and must be turned down by shareholders. Micron wishes to pay back about 1.10x product sales for Lexar although the industry 신용카드현금화 chief SanDisk (SNDK) is trading at four.35x profits. Lexar also has a $four hundred million patent infringement lawsuit from Toshiba that it had Earlier gained but is now matter to an charm by Toshiba.
Think about it this fashion, A prosperous $400 million settlement in favor of Lexar would equate to close to $four.83 for each share in supplemental dollars so as to add to The present $0.fifty four in no cost cash following personal debt that Lexar has. This means Micron would pay out below $five a share for Lexars assets, that is lower.
There is certainly also speculation that SanDisk is critically serious about getting a run at attaining Lexar. This could seem sensible due to the fact SanDisk would solidify its Management placement.
Additionally, 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.
Keep tune. A Unique shareholder Conference to review the takeover bid continues to be moved to June sixteen. In my look at, the $10 bid undervalues Lexar. Problem is will a white knight surface area?