On Friday, flash media maker Lexar Media (LEXR) been given a greater revised takeover bid from Micron Technologies (MU). The revised bid places the all-inventory Trade supply at all around $10 a share, up marginally from your Original bid.
But main shareholders such as billionaire investor Carl Icahn in addition to hedge funds and portfolio professionals have considered the Original bid to become inappropriate. Elliott Associates thinks the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is well worth in between $1.5 billion and $two.four billion. The estimate is nicely higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way as well lower and must be turned down by shareholders. Micron wants to spend all over one.10x sales for Lexar while the industry chief SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also incorporates a $four hundred million patent infringement lawsuit towards Toshiba that it had previously gained but has become issue to an attractiveness by Toshiba.
Think about it this fashion, A prosperous $400 million settlement in favor of Lexar would equate to all around $four.eighty three for every share in added http://www.bbc.co.uk/search?q=소액결제 hard cash to add to The present $0.fifty four in absolutely free cash after debt that Lexar has. This means Micron would spend a lot less than $five a share for Lexars property, which is very low.
There may be also speculation that SanDisk is significantly serious about getting a operate at buying Lexar. This might make sense due to the fact SanDisk would solidify its Management situation.
Furthermore, SanDisk has an in depth Functioning partnership with Toshiba, which could see SanDisk drop or decrease the settlement if it managed 신용카드현금화 to obtain Lexar.
Stay tune. A Particular shareholder Assembly to review the takeover bid has become moved to June sixteen. In my see, the $10 bid undervalues Lexar. Dilemma is will a white knight surface area?