On Friday, flash media maker Lexar Media (LEXR) been given a higher revised takeover bid from Micron Technology (MU). The revised bid locations the all-inventory exchange offer at all around $10 a share, up marginally through the First bid.
But important shareholders such as billionaire Trader Carl Icahn as well as hedge funds and portfolio administrators have considered the Original bid being inappropriate. Elliott Associates thinks the Original bid “drastically undervalues Lexar,” and feels Lexar is really worth among $1.five billion and $2.four billion. The estimate is nicely above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too lower and needs to be rejected by shareholders. Micron wants to fork out all over one.10x income for Lexar while the market chief SanDisk (SNDK) is trading at four.35x income. Lexar also has a $four hundred million patent infringement lawsuit in opposition to Toshiba that it had Formerly gained but has become subject to an enchantment by Toshiba.
Give it some thought in this manner, A prosperous $four hundred million settlement in favor of Lexar would equate to all around $four.eighty three for every share in further funds to add to The existing $0.fifty four in free of charge cash after debt that Lexar has. This implies Micron would spend below $five a share for Lexars assets, which is lower.
There is certainly also speculation that SanDisk is severely serious about using a 정보이용료 run at buying Lexar. This may seem sensible given that SanDisk would solidify its leadership situation.
Furthermore, SanDisk has a detailed working relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to accumulate Lexar.
Stay tune. A Exclusive shareholder Conference to evaluate the takeover bid has become moved to June 16. In my check out, the $10 bid undervalues http://www.thefreedictionary.com/소액결제 Lexar. Query is will a white knight surface?