On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Technologies (MU). The revised bid places the all-stock exchange give at about $10 a share, up marginally within the First bid.
But important shareholders which includes billionaire Trader Carl Icahn along with hedge money and portfolio administrators have deemed the First bid to be inappropriate. Elliott Associates thinks the First bid “substantially undervalues Lexar,” and feels Lexar is worth among $one.five billion and $two.four billion. The estimate is well higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way also reduced and should be turned down by shareholders. Micron hopes to pay all-around 1.10x profits for Lexar whilst the market chief SanDisk (SNDK) is trading at four.35x product sales. Lexar also provides a $400 million patent infringement lawsuit towards Toshiba that it experienced previously gained but has become subject to an enchantment by Toshiba.
Think about it by doing this, A prosperous $400 million settlement in favor of Lexar would equate to all around $4.eighty three per share in additional funds to include to the current $0.fifty four in totally free income soon after credit card debt 소액결제정책 that Lexar has. This means Micron would spend under $five a share for Lexars belongings, which happens to be very low.
There is certainly also speculation that SanDisk is seriously pondering using a run at getting Lexar. This might sound right because SanDisk would solidify its Management situation.
Also, SanDisk has an in depth Doing work marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Remain tune. A Specific shareholder meeting to evaluation the takeover bid has actually been moved to https://en.wikipedia.org/wiki/?search=소액결제 June sixteen. In my perspective, the $ten bid undervalues Lexar. Problem is will a white knight surface area?