On Friday, flash media maker Lexar Media (LEXR) obtained an increased revised takeover bid from Micron Technological innovation (MU). The revised bid spots the all-stock exchange offer at around $ten a share, up marginally in the initial bid.
But important shareholders which includes billionaire investor Carl Icahn together with hedge money and portfolio administrators have considered the Preliminary bid for being inappropriate. Elliott Associates believes the initial bid “considerably undervalues Lexar,” and feels Lexar is worthy of amongst $one.5 billion and $two.four billion. The estimate is properly previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too reduced and really should be turned down by shareholders. Micron wishes to spend all-around one.10x income for Lexar though the industry leader SanDisk (SNDK) is trading at 4.35x sales. Lexar also includes a $400 million patent infringement lawsuit versus Toshiba that it experienced previously received but has become topic to an attraction by Toshiba.
Give it some thought this fashion, a successful $400 million settlement in favor of Lexar would equate to all over $four.83 per share in more dollars to add to the current $0.fifty four in cost-free hard cash soon after personal debt that Lexar has. What this means is Micron would fork out lower than 소액결제정책 $5 a share for Lexars assets, which can be reduced.
You can find also speculation that SanDisk is very seriously thinking about taking a operate at obtaining Lexar. This might make sense considering the fact that SanDisk would solidify its Management position.
In addition, SanDisk has a close Functioning marriage with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to amass Lexar.
Remain tune. A Particular shareholder meeting to critique the takeover bid has long been moved to June sixteen. In my perspective, the $10 bid undervalues Lexar. Issue is https://en.search.wordpress.com/?src=organic&q=소액결제 will a white knight surface area?