On Friday, flash media maker Lexar Media (LEXR) gained a greater revised takeover bid from Micron Engineering (MU). The revised bid locations the all-stock exchange offer at close to $10 a share, up marginally from the initial bid.
But major shareholders which includes billionaire Trader Carl Icahn coupled with hedge resources and portfolio administrators have deemed the First bid being inappropriate. Elliott Associates thinks the Original bid “appreciably undervalues Lexar,” and feels Lexar is worthy of concerning $1.5 billion and $2.four billion. The estimate is properly previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way as well minimal and needs to be https://en.search.wordpress.com/?src=organic&q=소액결제 turned down by shareholders. Micron desires to shell out close to 1.10x profits for Lexar even though the industry chief SanDisk (SNDK) is buying 정보이용료 and selling at four.35x product sales. Lexar also contains a $four hundred million patent infringement lawsuit versus Toshiba that it experienced Formerly received but is now issue to an attractiveness by Toshiba.
Give it some thought in this manner, a successful $400 million settlement in favor of Lexar would equate to around $four.83 for every share in added dollars so as to add to the current $0.fifty four in totally free income following credit card debt that Lexar has. This implies Micron would pay back less than $5 a share for Lexars assets, that is low.
You can find also speculation that SanDisk is critically pondering taking a operate at acquiring Lexar. This might seem sensible given that SanDisk would solidify its leadership place.
Additionally, SanDisk has a close Functioning partnership with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to acquire Lexar.
Stay tune. A Exclusive shareholder meeting to assessment the takeover bid has been moved to June 16. In my check out, the $ten bid undervalues Lexar. Problem is will a white knight surface area?