On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Engineering (MU). The revised bid spots the all-stock Trade provide at all over $10 a share, up marginally within the Original bid.
But significant shareholders which include billionaire investor Carl Icahn coupled with hedge resources and portfolio supervisors have deemed the Preliminary bid for being inappropriate. Elliott Associates thinks the initial bid “substantially undervalues Lexar,” and feels Lexar is truly worth amongst $one.5 billion and $two.4 billion. The estimate is properly over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too minimal and should be turned down by shareholders. Micron would like to pay back about one.10x sales for Lexar although the marketplace leader SanDisk (SNDK) is buying and selling at four.35x product sales. Lexar also features a $400 million patent infringement lawsuit from Toshiba that it experienced Beforehand won but is currently topic to an charm by Toshiba.
Think it over using this method, A prosperous $four hundred million settlement in favor of Lexar would equate to all over $four.eighty three for every 정보이용료 share in more hard cash to incorporate to The present $0.fifty four in free of charge cash immediately after credit card debt that Lexar has. This suggests Micron would spend under $five a share for Lexars assets, which can be low.
There is certainly also speculation that SanDisk is very seriously contemplating using a operate at obtaining Lexar. This is able to sound right since SanDisk would solidify its leadership placement. https://en.wikipedia.org/wiki/?search=소액결제
Furthermore, SanDisk has a detailed Doing work romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Keep tune. A Particular shareholder meeting to review the takeover bid has become moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Question is will a white knight surface?