On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technological know-how (MU). The revised bid locations the all-inventory exchange provide at close to $ten a share, up marginally through the Preliminary bid.
But important shareholders like billionaire Trader Carl Icahn together with hedge money and portfolio professionals have deemed the Preliminary bid to be inappropriate. Elliott Associates thinks the initial bid “drastically undervalues Lexar,” and feels Lexar is worth between $one.five billion and $two.4 billion. The estimate is well above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way as well reduced and has to be rejected by shareholders. Micron hopes to 신용카드현금화 fork out around one.10x sales for Lexar though the marketplace leader SanDisk (SNDK) is investing at four.35x product sales. Lexar also includes a $four hundred million patent infringement lawsuit from Toshiba that it experienced Formerly received but is currently issue to an charm by Toshiba.
Consider it in this manner, a successful $four hundred million settlement in favor of Lexar would equate to about $4.83 for every share in added dollars to include to The present $0.54 in totally free income soon after debt that Lexar has. What this means is Micron would pay back a lot less than $five a share for Lexars assets, which can be low.
There is certainly also speculation that SanDisk is significantly considering taking a operate at getting Lexar. This is able to sound right because SanDisk would solidify its leadership placement.
Furthermore, SanDisk http://www.bbc.co.uk/search?q=소액결제 has an in depth Operating romantic relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to amass Lexar.
Continue to be tune. A Distinctive shareholder Assembly to review the takeover bid has been moved to June sixteen. In my check out, the $ten bid undervalues Lexar. Query is will a white knight surface area?