On Friday, flash media maker Lexar Media (LEXR) received an increased http://edition.cnn.com/search/?text=소액결제 revised takeover bid from Micron Technologies (MU). The revised bid destinations the all-stock Trade offer you at all over $10 a share, up marginally in the Preliminary bid.
But main shareholders such as billionaire Trader Carl Icahn in addition to hedge resources and portfolio 신용카드현금화 managers have deemed the First bid to generally be inappropriate. Elliott Associates thinks the First bid “considerably undervalues Lexar,” and feels Lexar is really worth among $1.five billion and $2.4 billion. The estimate is nicely previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too lower and has to be turned down by shareholders. Micron wants to pay back all over 1.10x sales for Lexar although the industry chief SanDisk (SNDK) is buying and selling at 4.35x sales. Lexar also contains a $four hundred million patent infringement lawsuit from Toshiba that it experienced Formerly gained but is currently matter to an attractiveness by Toshiba.
Give it some thought this way, a successful $four hundred million settlement in favor of Lexar would equate to around $4.83 for every share in more funds so as to add to The existing $0.54 in absolutely free dollars after credit card debt that Lexar has. This implies Micron would fork out under $five a share for Lexars property, and that is reduced.
There is certainly also speculation that SanDisk is severely considering getting a operate at obtaining Lexar. This might make sense since SanDisk would solidify its Management place.
Moreover, SanDisk has a detailed Performing marriage with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Stay tune. A special shareholder Assembly to evaluation the takeover bid has become moved to June 16. In my perspective, the $10 bid undervalues Lexar. Concern is will a white knight area?