On Friday, flash media maker Lexar Media (LEXR) gained the next revised takeover bid from Micron Engineering (MU). The revised bid locations the all-stock Trade present at all-around $10 a share, up marginally in the Preliminary bid.
But main 소액결제현금화 shareholders such as billionaire investor Carl Icahn coupled with hedge funds and portfolio managers have considered the Original bid for being inappropriate. Elliott Associates thinks the First bid “significantly undervalues Lexar,” and feels Lexar is well worth concerning $1.5 billion and $two.four billion. The estimate is well earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way too minimal and really should be rejected by shareholders. Micron really wants to spend close to one.10x product sales for Lexar whilst the industry chief SanDisk (SNDK) is investing at 4.35x profits. Lexar also provides a $four hundred million patent infringement lawsuit versus Toshiba that it had Formerly gained but has become subject matter to an appeal by Toshiba.
Think it over this way, An effective $four hundred million settlement in favor of Lexar would equate to all over $four.83 for each share in added dollars to incorporate to The existing $0.fifty four in cost-free funds just after financial debt that Lexar has. This suggests Micron would pay back lower than $five a share for Lexars assets, that's lower.
There is certainly also speculation that SanDisk is significantly thinking about having a operate at obtaining Lexar. This would make sense due to the fact SanDisk would solidify its Management placement.
Additionally, SanDisk has a detailed Doing work partnership with Toshiba, which could see SanDisk fall or reduce the settlement if it https://en.wikipedia.org/wiki/?search=소액결제 managed to amass Lexar.
Remain tune. A Distinctive shareholder Conference to evaluate the takeover bid has been moved to June 16. In my see, the $ten bid undervalues Lexar. Question is will a white knight floor?