On Friday, flash media maker Lexar Media (LEXR) received the http://www.bbc.co.uk/search?q=소액결제 next revised takeover bid from Micron Technologies (MU). The revised bid spots the all-inventory exchange offer at around $ten a share, up marginally from your Preliminary bid.
But big shareholders such as billionaire Trader Carl Icahn in addition to hedge resources and portfolio supervisors have considered the Preliminary bid to become inappropriate. Elliott 소액결제정책 Associates thinks the initial bid “significantly undervalues Lexar,” and feels Lexar is worth between $one.5 billion and $two.four billion. The estimate is very well over 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 would like to pay out close to 1.10x product sales for Lexar while the market leader SanDisk (SNDK) is buying and selling at 4.35x gross sales. Lexar also features a $400 million patent infringement lawsuit against Toshiba that it had Earlier received but is now topic to an appeal by Toshiba.
Think it over by doing this, An effective $400 million settlement in favor of Lexar would equate to all over $four.eighty three for every share in extra dollars to add to The existing $0.54 in free of charge money following debt that Lexar has. This implies Micron would pay back fewer than $five a share for Lexars belongings, that's lower.
There may be also speculation that SanDisk is critically thinking about using a operate at buying Lexar. This may sound right since SanDisk would solidify its leadership position.
Additionally, SanDisk has a detailed working partnership with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to accumulate Lexar.
Stay tune. A Exclusive shareholder Assembly to evaluation the takeover bid has been moved to June sixteen. In my perspective, the $ten bid undervalues Lexar. Issue is will a white knight floor?