On Friday, flash media maker Lexar Media (LEXR) acquired an increased revised takeover bid from Micron Technological know-how (MU). The 신용카드현금화 revised bid areas the all-inventory exchange offer you at around $ten a share, up marginally with the initial bid.
But important shareholders including billionaire investor Carl Icahn together with hedge cash and portfolio supervisors have considered the Original bid to be inappropriate. Elliott Associates thinks the Original bid “appreciably undervalues Lexar,” and feels Lexar is really worth between $1.5 billion and $two.4 billion. The estimate is very well previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also low and really should be turned down by shareholders. Micron really wants to pay around 1.10x gross sales for Lexar although the industry leader SanDisk (SNDK) is buying and selling at 4.35x revenue. Lexar also includes a $400 million patent infringement lawsuit towards Toshiba that it experienced Earlier gained but has become topic to an charm by Toshiba.
Think it over in this manner, An effective $four hundred million settlement in favor of Lexar would equate to around $four.eighty three for every share in extra income to include to the current $0.54 in free of charge cash soon after credit card debt that Lexar has. This implies Micron would spend less than $5 a share for Lexars property, and that is very low.
There may be also speculation that SanDisk is severely serious about having a operate at attaining Lexar. This would seem sensible due to the fact SanDisk would solidify its leadership posture.
What's more, SanDisk has an in depth Operating partnership with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Stay tune. A special shareholder Conference to http://www.bbc.co.uk/search?q=소액결제 evaluation the takeover bid continues to be moved to June sixteen. In my see, the $10 bid undervalues Lexar. Problem is will a white knight area?