On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Engineering (MU). The revised bid locations the all-stock exchange offer at all-around $10 a share, up marginally from the Original bid.
But major shareholders which include billionaire investor Carl Icahn as well as hedge resources and portfolio http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 administrators have considered the initial bid being inappropriate. Elliott Associates thinks the initial bid “significantly undervalues Lexar,” and feels Lexar is really worth among $one.5 billion and $2.4 billion. The estimate is nicely higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way way too reduced and should be turned down by shareholders. Micron hopes to shell out about 1.10x gross sales for Lexar even though the industry chief SanDisk (SNDK) is buying and selling at 4.35x gross sales. Lexar also incorporates a $400 million patent infringement lawsuit versus Toshiba that it experienced Earlier won but is currently subject to an appeal by Toshiba.
Think about it by doing this, A prosperous $four hundred million settlement in favor of Lexar would equate to all around $4.eighty three for every share in extra income to include to The present $0.fifty four in no cost cash following personal debt that Lexar has. This 신용카드현금화 suggests Micron would fork out fewer than $5 a share for Lexars property, that's reduced.
There is also speculation that SanDisk is very seriously serious about getting a operate at getting Lexar. This could make sense because SanDisk would solidify its Management placement.
Additionally, SanDisk has a detailed Doing work connection with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to obtain Lexar.
Keep tune. A Unique shareholder Conference to assessment the takeover bid has long been moved to June 16. In my watch, the $10 bid undervalues Lexar. Problem is will a white knight surface?