On Friday, flash media maker Lexar Media (LEXR) gained a better revised takeover bid from Micron Engineering (MU). The revised bid areas the all-inventory exchange provide at all-around $10 a share, up marginally within the First bid.
But big shareholders like billionaire Trader Carl Icahn as well as hedge resources and portfolio professionals have deemed the initial bid for being inappropriate. Elliott Associates believes the initial bid “drastically undervalues 소액결제정책 Lexar,” and feels Lexar is truly worth concerning $one.five billion and $two.four billion. The estimate is nicely earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way https://en.search.wordpress.com/?src=organic&q=소액결제 much too very low and should be turned down by shareholders. Micron wants to pay about 1.10x gross sales for Lexar whilst the industry chief SanDisk (SNDK) is buying and selling at four.35x gross sales. Lexar also contains a $400 million patent infringement lawsuit versus Toshiba that it had previously received but is now subject matter to an attractiveness by Toshiba.
Think it over in this way, An effective $400 million settlement in favor of Lexar would equate to all around $four.83 per share in extra dollars so as to add to The existing $0.54 in absolutely free hard cash following debt that Lexar has. This suggests Micron would pay out fewer than $5 a share for Lexars belongings, which can be reduced.
There exists also speculation that SanDisk is very seriously thinking of having a run at obtaining Lexar. This is able to seem sensible considering the fact that SanDisk would solidify its Management posture.
Additionally, SanDisk has an in depth Doing the job romance with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Stay tune. A Specific shareholder Conference to review the takeover bid is moved to June 16. In my perspective, the $ten bid undervalues Lexar. Question is will a white knight area?