On Friday, flash media maker Lexar Media (LEXR) received an increased revised takeover bid from Micron Technology (MU). The revised bid areas the all-inventory exchange supply at about $ten a share, up marginally with the Preliminary bid.
But significant shareholders such as billionaire investor Carl Icahn in conjunction with hedge resources and portfolio administrators have considered the Original bid to get inappropriate. Elliott Associates believes the Preliminary bid “noticeably undervalues Lexar,” and feels Lexar is well worth concerning $one.five billion and $two.4 billion. The estimate is perfectly over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid https://www.washingtonpost.com/newssearch/?query=소액결제 is way way too very low and must 소액결제현금화 be turned down by shareholders. Micron hopes to spend all over one.10x income for Lexar even though the marketplace leader SanDisk (SNDK) is investing at four.35x gross sales. Lexar also includes a $four hundred million patent infringement lawsuit towards Toshiba that it experienced Formerly gained but is now issue to an attractiveness by Toshiba.
Think it over in this manner, An effective $400 million settlement in favor of Lexar would equate to all around $four.83 for every share in added dollars to include to The present $0.54 in totally free hard cash soon after financial debt that Lexar has. This suggests Micron would pay a lot less than $5 a share for Lexars belongings, that's reduced.
You can find also speculation that SanDisk is seriously thinking about having a run at attaining Lexar. This could make sense due to the fact SanDisk would solidify its Management situation.
Furthermore, SanDisk has an in depth Doing work partnership with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Keep tune. A special shareholder Conference to overview the takeover bid continues to be moved to June 16. In my check out, the $ten bid undervalues Lexar. Question is will a white knight surface area?