On Friday, flash media maker Lexar Media (LEXR) been given a greater revised takeover bid from Micron Technological know-how (MU). The revised bid destinations the all-stock Trade offer at about $10 a share, up marginally through the Original bid.
But important shareholders which include billionaire Trader Carl Icahn together with hedge cash and portfolio managers have deemed the initial bid for being inappropriate. Elliott Associates thinks the Preliminary bid “drastically undervalues Lexar,” and feels Lexar is worth between $one.five billion and $two.4 billion. The estimate is perfectly higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too reduced and has to be turned down by shareholders. Micron hopes to pay out about 1.10x revenue for Lexar though the market chief 신용카드현금화 SanDisk (SNDK) is trading at 4.35x income. Lexar also has a $400 million patent infringement lawsuit towards Toshiba that it had Beforehand won but has become issue to an attractiveness by Toshiba.
Consider it in this manner, A prosperous $four hundred million settlement in favor of Lexar would equate to all-around $4.83 for each share in more hard cash to add to The present $0.54 in absolutely free funds soon after personal debt that Lexar has. This means Micron would spend a lot less than $5 a share for Lexars assets, which happens to be lower.
There is also speculation that SanDisk is severely thinking of having a operate at attaining Lexar. This is able to http://www.bbc.co.uk/search?q=소액결제 seem sensible because SanDisk would solidify its Management posture.
Moreover, SanDisk has a detailed Doing work relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Continue to be tune. A Unique shareholder meeting to review the takeover bid has actually been moved to June 16. In my look at, the $ten bid undervalues Lexar. Dilemma is will a white knight surface?