On Friday, flash media maker Lexar Media (LEXR) obtained a higher revised takeover bid from Micron Know-how (MU). The revised bid areas the all-inventory Trade 소액결제정책 offer at all over $ten a share, up marginally in the Preliminary bid.
But significant shareholders which include billionaire Trader Carl Icahn in addition to hedge cash and portfolio administrators have considered the initial bid to become inappropriate. Elliott Associates believes the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is value between $1.5 billion and $2.four billion. The estimate is perfectly earlier mentioned the revised takeover bid of about $827 million. http://edition.cnn.com/search/?text=소액결제
I need to concur and say the revised takeover bid is way too lower and needs to be turned down by shareholders. Micron wishes to pay out all-around 1.10x gross sales for Lexar while the industry chief SanDisk (SNDK) is buying and selling at 4.35x product sales. Lexar also has a $400 million patent infringement lawsuit towards Toshiba that it experienced previously received but has become issue to an enchantment by Toshiba.
Think it over by doing this, a successful $four hundred million settlement in favor of Lexar would equate to all around $four.eighty three for every share in added income to add to the current $0.54 in cost-free money right after credit card debt that Lexar has. This suggests Micron would pay out lower than $5 a share for Lexars assets, which happens to be very low.
There exists also speculation that SanDisk is seriously considering using a run at getting Lexar. This would sound right due to the fact SanDisk would solidify its leadership position.
Furthermore, SanDisk has a close Operating romance with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to acquire Lexar.
Remain tune. A Unique shareholder meeting to evaluation the takeover bid has actually been moved to June 16. In my view, the $10 bid undervalues Lexar. Concern is will a white knight area?