On Friday, flash media maker Lexar Media (LEXR) received a better revised takeover bid from Micron Technologies (MU). The revised bid spots the all-inventory Trade supply at all over $10 a share, up marginally through the initial bid.
But key shareholders together with billionaire Trader Carl Icahn as well as hedge funds and portfolio supervisors have considered the initial bid to be inappropriate. Elliott Associates thinks the initial bid “substantially undervalues Lexar,” and feels Lexar is truly worth between $one.five billion and $two.four billion. The estimate is well 신용카드현금화 earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way as well very low http://edition.cnn.com/search/?text=소액결제 and has to be rejected by shareholders. Micron desires to pay out close to one.10x product sales for Lexar when the marketplace chief SanDisk (SNDK) is trading at 4.35x sales. Lexar also provides a $four hundred million patent infringement lawsuit towards Toshiba that it had Beforehand received but has become subject matter to an enchantment by Toshiba.
Think about it in this way, An effective $400 million settlement in favor of Lexar would equate to all-around $four.eighty three per share in more cash to incorporate to the current $0.54 in free hard cash following credit card debt that Lexar has. This implies Micron would fork out less than $5 a share for Lexars property, that's low.
There exists also speculation that SanDisk is very seriously considering getting a operate at attaining Lexar. This might sound right since SanDisk would solidify its leadership placement.
What's more, SanDisk has a detailed working romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Stay tune. A Unique shareholder Conference to evaluate the takeover bid has become moved to June sixteen. In my check out, the $ten bid undervalues Lexar. Question is will a white knight surface area?