On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technology (MU). The revised bid sites the all-inventory Trade give at about $ten a share, up marginally through the Preliminary bid.
But significant shareholders which includes billionaire Trader Carl Icahn together with hedge money and portfolio managers have considered the initial bid to become inappropriate. Elliott Associates believes the Preliminary bid “substantially undervalues Lexar,” and feels Lexar is value involving $1.5 billion and $2.four billion. The estimate is nicely higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too lower and should be turned down by shareholders. Micron wants to shell out all around 1.10x sales for Lexar although the industry chief SanDisk (SNDK) is trading at four.35x profits. Lexar https://www.washingtonpost.com/newssearch/?query=소액결제 also has a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced previously received but is now subject to an attraction by Toshiba.
Consider it using this method, a successful $400 million settlement in favor of Lexar would equate to about $four.eighty three for each share in more cash to add to The existing $0.54 in free of charge cash right after personal debt that Lexar has. This means Micron would spend fewer than $5 a share for Lexars property, that's low.
There exists also speculation that SanDisk is seriously contemplating taking a run at buying Lexar. This may make sense given that SanDisk would solidify its leadership place.
Additionally, SanDisk has an in depth Functioning marriage with Toshiba, which could see SanDisk fall or decrease the settlement if 신용카드현금화 it managed to accumulate Lexar.
Stay tune. A Distinctive shareholder Assembly to critique the takeover bid has actually been moved to June 16. In my see, the $10 bid undervalues Lexar. Query is will a white knight floor?