On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Technology (MU). The revised bid areas the all-inventory exchange present at about $10 a share, up marginally within the First bid.
But major shareholders which include billionaire investor Carl Icahn in conjunction with hedge resources and portfolio professionals have considered the Original bid to generally be inappropriate. Elliott Associates believes the First bid “appreciably undervalues Lexar,” and feels Lexar is value amongst $one.5 billion and $two.4 billion. The estimate is nicely earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way too low and needs to be rejected by shareholders. Micron really wants to pay all over one.10x income for Lexar whilst the marketplace chief SanDisk (SNDK) is investing at 4.35x profits. Lexar also incorporates a $400 million patent infringement lawsuit versus Toshiba that it experienced Beforehand won but has become subject matter to an attractiveness by Toshiba.
Think it over using this method, A prosperous $four hundred million settlement in favor of Lexar would equate to about $4.83 per share in extra https://en.search.wordpress.com/?src=organic&q=소액결제 income to add to The present $0.54 in cost-free money right after personal debt 소액결제정책 that Lexar has. This implies Micron would spend less than $5 a share for Lexars belongings, which happens to be lower.
You can find also speculation that SanDisk is significantly thinking of taking a run at buying Lexar. This is able to make sense given that SanDisk would solidify its leadership placement.
What's more, SanDisk has a close Performing connection with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to amass Lexar.
Keep tune. A Unique shareholder meeting to review the takeover bid is moved to June 16. In my watch, the $10 bid undervalues Lexar. Question is will a white knight area?