On Friday, flash media maker Lexar Media (LEXR) been given the next revised takeover bid from Micron Technologies (MU). The revised bid areas the all-stock Trade offer you at all around $ten a share, up marginally with the Preliminary bid.
But important shareholders including billionaire Trader Carl Icahn together with hedge resources and portfolio administrators have deemed the Original bid to get inappropriate. Elliott Associates thinks the initial bid “appreciably undervalues Lexar,” and http://www.bbc.co.uk/search?q=소액결제 feels Lexar is worthy of amongst $one.five billion and $2.four billion. The estimate is very well above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too reduced and needs to be turned down by shareholders. Micron wishes to pay all-around 정보이용료 1.10x revenue for Lexar whilst the industry chief SanDisk (SNDK) is investing at four.35x income. Lexar also incorporates a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced previously received but is currently matter to an attractiveness by Toshiba.
Think about it using this method, A prosperous $four hundred million settlement in favor of Lexar would equate to about $4.eighty three per share in added dollars to incorporate to The existing $0.fifty four in cost-free money soon after financial debt that Lexar has. What this means is Micron would pay out below $5 a share for Lexars belongings, which happens to be lower.
There's also speculation that SanDisk is very seriously thinking of taking a run at acquiring Lexar. This is able to sound right due to the fact SanDisk would solidify its leadership situation.
What's more, SanDisk has an in depth Operating marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to amass Lexar.
Remain tune. A special shareholder Conference to overview the takeover bid has become moved to June 16. In my see, the $ten bid undervalues Lexar. Problem is will a white knight surface?