On Friday, flash media maker Lexar Media (LEXR) been given 소액결제현금화 the next revised takeover bid from Micron Technological innovation (MU). The revised bid spots the all-inventory exchange provide at around $10 a share, up marginally within the Original bid.
But key shareholders including billionaire investor Carl Icahn along with hedge money and portfolio supervisors have considered the Original bid being inappropriate. Elliott Associates believes the initial bid “drastically undervalues Lexar,” and feels Lexar is worth involving $1.five billion and $two.four billion. The estimate is nicely over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way also reduced https://www.washingtonpost.com/newssearch/?query=소액결제 and really should be rejected by shareholders. Micron would like to pay all around one.10x revenue for Lexar though the marketplace chief SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also contains a $four hundred million patent infringement lawsuit versus Toshiba that it had Formerly won but is currently matter to an enchantment by Toshiba.
Think about it in this way, A prosperous $400 million settlement in favor of Lexar would equate to close to $four.83 for every share in added hard cash to add to The existing $0.54 in free dollars soon after debt that Lexar has. This means Micron would shell out lower than $five a share for Lexars assets, that's small.
There exists also speculation that SanDisk is severely serious about having a operate at attaining Lexar. This may seem sensible considering that SanDisk would solidify its Management posture.
Furthermore, SanDisk has an in depth Functioning partnership with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Continue to be tune. A Specific shareholder Conference to critique the takeover bid has become moved to June sixteen. In my view, the $ten bid undervalues Lexar. Query is will a white knight surface?