On Friday, flash media maker Lexar Media (LEXR) gained an increased revised takeover bid from Micron Engineering (MU). The revised bid areas the all-inventory Trade offer at all over $10 a share, up marginally from your First bid.
But significant shareholders which include billionaire investor Carl Icahn as well as hedge cash and portfolio supervisors have deemed https://en.search.wordpress.com/?src=organic&q=소액결제 the Preliminary bid for being inappropriate. Elliott Associates believes the Original bid “significantly undervalues Lexar,” and feels Lexar is really worth concerning $one.five billion and $two.4 billion. The estimate is well over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too low and really should be rejected by shareholders. Micron wants to spend all-around 1.10x product sales for Lexar when the market chief SanDisk (SNDK) is investing at four.35x income. Lexar also contains a $four hundred million patent infringement lawsuit in opposition to Toshiba that it had Earlier won but is currently subject to an enchantment by Toshiba.
Consider it by doing this, An effective $400 million settlement in favor of Lexar would equate to all over $4.83 for every share in extra cash to incorporate to The present $0.54 in free of charge income following financial debt that Lexar has. This means Micron would pay back lower than $five a share for Lexars assets, which can be low.
You can find also speculation that SanDisk is very seriously thinking of getting a operate at buying Lexar. This could make sense considering the fact that SanDisk would solidify its leadership placement.
What's more, SanDisk has a 소액결제정책 detailed Doing work romantic relationship with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to acquire Lexar.
Remain tune. A Exclusive shareholder Assembly to evaluate the takeover bid has actually been moved to June sixteen. In my perspective, the $ten bid undervalues Lexar. Query is will a white knight surface area?