On Friday, flash media maker Lexar Media (LEXR) been given the next revised takeover bid from Micron Engineering (MU). The revised bid spots the all-stock exchange supply at all over $10 a share, up marginally from 소액결제현금화 your Original bid.
But important shareholders including billionaire Trader Carl Icahn together with hedge resources and portfolio administrators have deemed the Preliminary bid to become inappropriate. Elliott Associates thinks the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is value amongst $1.5 billion and $two.4 billion. The estimate is perfectly previously mentioned the revised takeover bid of https://en.search.wordpress.com/?src=organic&q=소액결제 about $827 million.
I have to concur and say the revised takeover bid is way too minimal and has to be turned down by shareholders. Micron wishes to pay out all-around 1.10x gross sales for Lexar whilst the marketplace chief SanDisk (SNDK) is investing at 4.35x gross sales. Lexar also provides a $400 million patent infringement lawsuit from Toshiba that it experienced Formerly gained but is now matter to an attractiveness by Toshiba.
Think it over in this manner, a successful $four hundred million settlement in favor of Lexar would equate to around $four.eighty three for each share in supplemental funds so as to add to The present $0.54 in totally free income right after debt that Lexar has. This implies Micron would spend under $five a share for Lexars property, that's minimal.
There's also speculation that SanDisk is significantly considering getting a run at acquiring Lexar. This may seem sensible due to the fact SanDisk would solidify its Management position.
Additionally, SanDisk has an in depth working relationship with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to acquire Lexar.
Continue to be tune. A Unique shareholder Assembly to assessment the takeover bid has become moved to June sixteen. In my see, the $10 bid undervalues Lexar. Issue is will a white knight surface area?