On Friday, flash media maker Lexar Media (LEXR) gained a greater revised takeover bid from Micron Technological know-how (MU). The revised bid destinations the all-stock exchange present at all-around $10 a share, up marginally through the initial bid.
But main shareholders including billionaire Trader Carl Icahn in addition to hedge funds and portfolio administrators have considered the Preliminary bid for being inappropriate. Elliott Associates believes the Original bid “considerably undervalues Lexar,” and feels Lexar is value concerning $1.5 billion and $2.four billion. The estimate is effectively previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too small and has to be rejected by shareholders. Micron wishes to 신용카드현금화 fork out around one.10x profits for Lexar although the marketplace leader SanDisk (SNDK) is investing at four.35x profits. Lexar also incorporates a $400 million patent infringement lawsuit in opposition to Toshiba that it experienced previously won but is currently matter to an enchantment by Toshiba.
Think about it by doing this, A prosperous $400 million settlement in favor of Lexar would equate to all over $4.eighty three for every share in additional funds to include to the current $0.54 in free of charge funds following credit card debt that Lexar has. What this means is Micron would fork out less than $5 a share for Lexars belongings, and that is small.
There exists also speculation that https://www.washingtonpost.com/newssearch/?query=소액결제 SanDisk is very seriously serious about using a operate at obtaining Lexar. This might make sense because SanDisk would solidify its leadership posture.
Moreover, SanDisk has a detailed working romance with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to amass Lexar.
Remain tune. A Unique shareholder meeting to assessment the takeover bid continues to be moved to June sixteen. In my perspective, the $ten bid undervalues Lexar. Concern is will a white knight surface area?