On Friday, flash media maker Lexar Media (LEXR) acquired the next revised takeover bid from Micron Technologies (MU). The revised bid areas the all-inventory Trade give at around $10 a share, up marginally in the initial bid.
But main shareholders which includes billionaire Trader Carl Icahn in conjunction with hedge resources and portfolio administrators have deemed the Original bid being inappropriate. Elliott Associates believes the Preliminary bid “substantially undervalues Lexar,” and feels Lexar is worth involving $1.5 billion and $two.four billion. The estimate is well earlier mentioned 소액결제현금화 the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way too very low and should be turned down by shareholders. Micron desires to pay out all over 1.10x revenue for Lexar although the marketplace chief SanDisk (SNDK) is trading at 4.35x revenue. Lexar also contains a $400 million patent infringement lawsuit towards Toshiba that it had Earlier received but has become subject matter to an enchantment by Toshiba.
Consider it by doing this, An effective $four hundred million settlement in favor of Lexar would equate to all over $4.83 per share in further money to incorporate to The present $0.54 in free funds soon after financial debt https://en.search.wordpress.com/?src=organic&q=소액결제 that Lexar has. What this means is Micron would shell out a lot less than $five a share for Lexars property, which happens to be minimal.
There is also speculation that SanDisk is seriously thinking of getting a operate at acquiring Lexar. This would make sense since SanDisk would solidify its Management position.
Moreover, SanDisk has a detailed working romantic relationship with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to amass Lexar.
Remain tune. A Distinctive shareholder meeting to overview the takeover bid has become moved to June 16. In my watch, the $ten bid undervalues Lexar. Query is will a white knight surface area?