On Friday, flash media maker Lexar Media (LEXR) obtained the next revised takeover bid from Micron Technologies (MU). The revised bid sites the all-inventory Trade provide at around $10 a share, up marginally with the First bid.
But important shareholders which include billionaire investor Carl Icahn in conjunction with hedge money and portfolio administrators have considered the First bid to generally be inappropriate. Elliott Associates believes the First bid “appreciably undervalues Lexar,” and feels Lexar is worth between $1.5 billion and $2.four billion. The estimate is well previously mentioned the revised takeover bid of about $827 million.
I must concur and say the 소액결제현금화 revised takeover bid is way way too very low and ought to be rejected by shareholders. Micron really wants to pay back about one.10x product sales for Lexar whilst the marketplace leader SanDisk (SNDK) is investing at 4.35x revenue. Lexar also provides a $four hundred million patent infringement lawsuit towards Toshiba that it had Earlier gained but is currently matter to an attractiveness by Toshiba.
Think about it by doing this, A prosperous $400 million settlement in favor of Lexar would equate to close to $4.83 for every share in extra funds to incorporate to The existing $0.fifty four in absolutely free dollars just after credit card debt that Lexar has. This suggests Micron would pay out less than $5 a share for Lexars property, that is small.
There's also speculation that SanDisk is significantly contemplating using a run at attaining Lexar. This might make sense given that SanDisk would solidify its leadership posture.
Furthermore, SanDisk has a close working connection with Toshiba, which could see http://www.bbc.co.uk/search?q=소액결제 SanDisk drop or lessen the settlement if it managed to amass Lexar.
Continue to be tune. A Unique shareholder Conference to evaluation the takeover bid has been moved to June 16. In my look at, the $10 bid undervalues Lexar. Question is will a white knight area?