On Friday, flash media maker Lexar Media (LEXR) gained an increased revised takeover bid from Micron Engineering (MU). The revised bid spots the all-inventory exchange offer you at all-around $10 a share, up marginally from your Original bid.
But significant shareholders which include billionaire Trader Carl Icahn in conjunction with hedge resources and portfolio professionals have deemed the Preliminary bid to become inappropriate. Elliott Associates believes the First bid “drastically undervalues Lexar,” and feels Lexar is really worth involving $one.5 billion and $2.four billion. The estimate is very well earlier mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way as well reduced and needs to be turned down by shareholders. Micron hopes to pay out all over one.10x product sales for Lexar even though the industry leader SanDisk (SNDK) is investing at four.35x product sales. Lexar also contains a $400 million patent infringement lawsuit against Toshiba that it experienced Earlier won but has become matter to an appeal by Toshiba.
Think about it by doing this, A prosperous $400 million settlement in favor of Lexar would equate to all over $four.83 신용카드현금화 for each share in more income so as to add to The present $0.fifty four in free cash immediately after financial debt that Lexar has. What this means is Micron would fork out fewer than $five a share for Lexars assets, that's small.
There is also speculation that SanDisk is critically pondering getting a operate at acquiring Lexar. This could sound right https://www.washingtonpost.com/newssearch/?query=소액결제 due to the fact SanDisk would solidify its leadership placement.
Also, SanDisk has an in depth Functioning marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to accumulate Lexar.
Keep tune. A Particular shareholder Conference to evaluate the takeover bid continues to be moved to June 16. In my view, the $10 bid undervalues Lexar. Question is will a white knight floor?