On Friday, flash media maker Lexar Media (LEXR) been given a greater revised takeover bid from Micron Technological know-how (MU). The revised bid destinations the all-inventory exchange present at around $10 a share, up marginally through the Original bid.
But key shareholders like billionaire Trader Carl Icahn in conjunction with hedge money and portfolio managers have deemed the Original bid to become inappropriate. Elliott Associates thinks the Original bid “substantially undervalues Lexar,” and feels Lexar is well worth between $1.5 billion and $2.four billion. The estimate is effectively higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way much too lower and really should be rejected by shareholders. Micron would like to shell out all over 1.10x product sales for Lexar though the industry leader SanDisk (SNDK) is investing at 4.35x revenue. Lexar also has a $four hundred million patent infringement lawsuit from Toshiba that it had Beforehand gained 정보이용료 but is now topic to an appeal by Toshiba.
Think it over using this method, An effective $four hundred million settlement in favor of Lexar would equate to all-around $4.83 for every share in added cash to include to the current $0.fifty four in free of charge funds soon after financial debt that Lexar has. This implies Micron would fork out a lot less than $five a share for Lexars belongings, that's very low.
There may be also speculation that SanDisk is very seriously contemplating taking a run at attaining Lexar. This could seem sensible because SanDisk would solidify its Management placement.
Moreover, SanDisk has a close working connection with Toshiba, which could see SanDisk drop or decrease the https://www.washingtonpost.com/newssearch/?query=소액결제 settlement if it managed to obtain Lexar.
Continue to be tune. A Exclusive shareholder Conference to evaluation the takeover bid continues to be moved to June sixteen. In my view, the $ten bid undervalues Lexar. Problem is will a white knight surface?