On Friday, flash media maker Lexar Media (LEXR) gained a higher revised takeover bid from Micron Technologies (MU). The revised bid destinations the all-inventory exchange offer you at close to $ten a share, up marginally within the Original bid.
But key shareholders which include billionaire investor Carl Icahn in addition to hedge money and portfolio administrators have considered the Preliminary bid to become inappropriate. Elliott Associates believes the Original bid “noticeably undervalues Lexar,” and feels Lexar is truly worth in between $1.five billion and $two.four billion. The estimate is well earlier mentioned the revised takeover bid of about $827 million.
I http://edition.cnn.com/search/?text=소액결제 have to concur and say the revised takeover bid is way also minimal and should be turned down by shareholders. Micron wishes to pay out all over 1.10x revenue for Lexar although the market leader SanDisk (SNDK) is investing at four.35x gross sales. Lexar also provides a $400 million patent infringement lawsuit from Toshiba that it experienced Beforehand gained but is now issue to an enchantment by Toshiba.
Think about it in this way, An effective $four hundred million settlement in favor of Lexar would equate to all around $4.eighty three for each share in extra money to add to the current $0.fifty four in absolutely free hard cash right after debt that Lexar has. This suggests Micron would pay fewer than $five a share for Lexars property, that is lower.
There's also speculation that SanDisk is very seriously contemplating having a run at buying Lexar. This could make sense considering that SanDisk would solidify its Management situation.
Moreover, SanDisk has a detailed working marriage with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to amass Lexar.
Stay tune. A Particular shareholder Conference to overview the takeover bid has been moved to June 16. In my watch, the $10 bid undervalues Lexar. Dilemma is will 소액결제 a white knight surface area?