On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Engineering (MU). The revised bid places the all-inventory Trade offer you at all over $10 a share, up marginally with the Original bid.
But big shareholders together with billionaire Trader Carl Icahn in conjunction with hedge resources and portfolio managers have deemed the initial bid being inappropriate. Elliott Associates believes the Original bid “drastically undervalues Lexar,” and feels Lexar is worth among $one.5 billion and $2.4 billion. The estimate is perfectly higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too very low and should be turned down by shareholders. Micron wants to pay back close to 1.10x income for Lexar though the industry chief SanDisk (SNDK) is buying and selling at four.35x income. Lexar also incorporates a $four hundred million patent infringement lawsuit towards Toshiba that it experienced previously gained but is now issue to an attraction by Toshiba.
Consider it in this way, A prosperous $four hundred million settlement in favor of Lexar would equate to about $4.83 for each share in supplemental dollars to add to the current $0.54 in free hard cash following credit card debt https://www.washingtonpost.com/newssearch/?query=소액결제 that Lexar has. This suggests Micron would pay less than $5 a share for Lexars assets, which can be small.
There is certainly also speculation that SanDisk is severely thinking of taking a run at buying Lexar. This may seem sensible considering the fact that SanDisk would solidify its leadership position.
Additionally, SanDisk has a close Performing relationship with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to accumulate Lexar.
Keep tune. A Exclusive shareholder Assembly to assessment the takeover bid is moved to June sixteen. In my look at, the $10 bid undervalues 신용카드현금화 Lexar. Concern is will a white knight floor?