On Friday, flash media maker Lexar Media (LEXR) been given a higher revised takeover bid from Micron Technology (MU). The revised bid areas the all-inventory exchange present at all around $ten a share, up marginally in the First bid.
But main shareholders including billionaire investor Carl Icahn in addition to hedge resources and portfolio administrators have deemed the Preliminary bid to become inappropriate. Elliott Associates thinks 신용카드현금화 the First bid “significantly undervalues Lexar,” and feels Lexar is value in between $1.five billion and $2.4 billion. The estimate is effectively higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way as well lower and needs to be turned down by shareholders. Micron wishes to spend all over one.10x income for Lexar when the marketplace leader SanDisk (SNDK) is trading at four.35x gross sales. Lexar also provides a $four hundred million http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 patent infringement lawsuit in opposition to Toshiba that it experienced Earlier gained but has become issue to an attraction by Toshiba.
Think it over in this way, a successful $400 million settlement in favor of Lexar would equate to all around $four.83 for each share in further dollars to add to The present $0.54 in no cost income soon after financial debt that Lexar has. This implies Micron would shell out fewer than $five a share for Lexars belongings, that is lower.
There exists also speculation that SanDisk is very seriously thinking about having a operate at obtaining Lexar. This could sound right considering that SanDisk would solidify its Management situation.
What's more, SanDisk has a detailed Functioning partnership with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Continue to be tune. A Specific shareholder Assembly to assessment the takeover bid has become moved to June 16. In my view, the $10 bid undervalues Lexar. Question is will a white knight surface?