On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Know-how (MU). The revised bid locations the all-stock exchange supply at around $10 a share, up marginally within the initial bid.
But significant shareholders which includes billionaire investor Carl Icahn together with hedge money and portfolio professionals have considered the First bid to generally be inappropriate. Elliott Associates believes the Original bid “significantly undervalues Lexar,” and feels Lexar is worth between $one.5 billion and $two.four billion. The estimate is properly previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too very low and has to 소액결제현금화 be rejected by shareholders. Micron would like to pay out all-around 1.10x product sales for Lexar whilst the marketplace chief SanDisk (SNDK) is buying and selling at four.35x income. Lexar also includes a $400 million patent infringement lawsuit towards Toshiba that it experienced previously received but is now matter to an attractiveness by Toshiba.
Think about it in this manner, a successful $400 million settlement in favor of Lexar would equate to all-around $four.83 for each share in further money to incorporate to The existing $0.fifty four in no cost funds just after personal debt that Lexar has. What this means is Micron would shell out less than $5 a share for Lexars assets, that's lower.
There is also speculation that SanDisk is severely serious about getting a run at getting Lexar. This is able to sound right since SanDisk would solidify its Management position.
What's more, SanDisk has an in depth Doing work partnership with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to obtain Lexar.
Remain tune. A Unique shareholder meeting to evaluate the takeover bid is moved to June http://www.bbc.co.uk/search?q=소액결제 16. In my look at, the $ten bid undervalues Lexar. Query is will a white knight surface?