On Friday, flash media maker Lexar Media (LEXR) gained a better revised takeover bid from Micron Technology (MU). The revised bid spots the all-stock Trade give at about $ten a share, up marginally with the Original bid.
But key shareholders https://en.search.wordpress.com/?src=organic&q=소액결제 which include billionaire investor Carl Icahn coupled with hedge funds and portfolio supervisors have considered the Preliminary bid to be inappropriate. Elliott Associates thinks the Original bid “substantially undervalues Lexar,” and feels Lexar is value between $1.five billion and $two.4 billion. The estimate is very well earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way too lower and ought to be rejected by shareholders. Micron wants to pay out about 1.10x income for Lexar when the marketplace chief SanDisk (SNDK) is buying and selling at four.35x gross sales. Lexar also includes a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced Formerly won but is currently subject to an attractiveness by Toshiba.
Think about it in this way, An effective $four hundred million settlement in favor of Lexar would equate to all around $4.83 for every share in additional cash to incorporate to the current $0.54 in no cost cash right after credit card debt that Lexar has. This suggests Micron would pay out a lot less than $5 a share for Lexars property, which happens to be low.
There is certainly also speculation that SanDisk is 정보이용료 significantly serious about getting a operate at obtaining Lexar. This might sound right given that SanDisk would solidify its Management posture.
Additionally, SanDisk has a detailed Doing work romance with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to accumulate Lexar.
Continue to be tune. A Particular shareholder Assembly to critique the takeover bid has long been moved to June 16. In my check out, the $10 bid undervalues Lexar. Problem is will a white knight surface area?