On Friday, flash media maker Lexar Media (LEXR) gained the next revised takeover bid from Micron Technologies (MU). The revised bid sites the all-stock Trade give at all over $ten a share, up marginally from your Preliminary bid.
But main shareholders which include billionaire Trader Carl Icahn along with hedge money and portfolio managers have deemed http://www.bbc.co.uk/search?q=소액결제 the Preliminary bid being inappropriate. Elliott Associates believes the First bid “noticeably undervalues Lexar,” and feels Lexar is worth among $1.5 billion and $2.four billion. The estimate is properly higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way way too minimal and must be rejected by shareholders. Micron desires to pay all over one.10x sales for Lexar whilst the market leader SanDisk (SNDK) is buying and selling at four.35x product sales. Lexar also features a $four hundred million patent infringement lawsuit versus Toshiba that it experienced previously gained but is currently subject to an appeal by Toshiba.
Think about it by doing this, An effective $400 million settlement in favor of Lexar would equate to all around $4.eighty three for each share in added dollars so as to add to The present $0.fifty four in no cost cash just after personal debt that Lexar has. This implies Micron would fork out lower than $5 a share for Lexars belongings, and that is minimal.
You can find also speculation that SanDisk is seriously pondering having a operate at buying Lexar. This would make sense because SanDisk would solidify its leadership position.
Moreover, SanDisk has an in depth Doing work connection with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Remain tune. A Specific shareholder meeting to evaluate the takeover bid has become moved to June sixteen. In my perspective, the $ten bid undervalues Lexar. Issue 소액결제현금화 is will a white knight surface?