On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Technological know-how (MU). The revised bid sites the all-inventory exchange give at all around $10 a share, up marginally with the initial bid.
But major shareholders which includes billionaire investor Carl Icahn along with http://edition.cnn.com/search/?text=소액결제 hedge resources and portfolio managers have considered the Original bid to generally be inappropriate. Elliott Associates thinks the initial bid “substantially undervalues Lexar,” and feels Lexar is worth in between $one.five billion and $two.four billion. The estimate is perfectly above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way too lower and has to be rejected by shareholders. Micron would like to pay around 1.10x profits for Lexar although the marketplace leader SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also features a $400 million patent infringement lawsuit in opposition to Toshiba that it experienced Beforehand gained but is currently subject to an attraction by Toshiba.
Think about it in this 정보이용료 manner, A prosperous $400 million settlement in favor of Lexar would equate to all over $4.eighty three for each share in more hard cash to add to The existing $0.fifty four in absolutely free cash after credit card debt that Lexar has. This suggests Micron would spend under $five a share for Lexars property, which can be reduced.
There is also speculation that SanDisk is significantly pondering taking a run at acquiring Lexar. This might sound right given that SanDisk would solidify its leadership place.
What's more, SanDisk has an in depth Doing the job connection with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Remain tune. A Specific shareholder Conference to evaluate the takeover bid continues to be moved to June 16. In my see, the $ten bid undervalues Lexar. Issue is will a white knight floor?