On Friday, flash media maker Lexar Media (LEXR) obtained a higher revised takeover bid from Micron Technological know-how (MU). The revised bid places the all-inventory exchange supply at all around $ten a share, up marginally within the First bid.
But main shareholders such as billionaire investor Carl Icahn in conjunction with hedge funds and portfolio managers have deemed the Original bid being inappropriate. Elliott Associates thinks the First bid “noticeably undervalues Lexar,” and feels Lexar is really worth concerning $one.5 billion and $2.4 billion. The estimate is well 신용카드현금화 over the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way as well low and must be turned down by shareholders. Micron would like to pay out all over 1.10x sales for Lexar while the marketplace leader SanDisk (SNDK) is buying and selling at 4.35x gross sales. Lexar also contains a $400 million patent infringement lawsuit versus Toshiba that it experienced Formerly gained but has become subject to an charm by Toshiba.
Give it some thought in this manner, a successful $400 million settlement in favor of Lexar would equate to all-around $4.83 for every share in added dollars to add to the current $0.fifty four in totally free income soon after credit card debt that Lexar has. What this means is Micron would shell out a lot less than $5 a share for Lexars belongings, and that is lower.
There may be also speculation that SanDisk is significantly serious about using a run at attaining Lexar. This might sound right considering the fact that SanDisk would solidify its Management position.
Moreover, SanDisk has a close Doing work partnership with http://www.bbc.co.uk/search?q=소액결제 Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Remain tune. A Exclusive shareholder meeting to critique the takeover bid continues to be moved to June 16. In my look at, the $10 bid undervalues Lexar. Problem is will a white knight area?