On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Know-how (MU). The revised bid sites the all-stock exchange present at around $ten a share, up marginally from the Preliminary bid.
But main shareholders which includes billionaire Trader Carl Icahn in addition to hedge money and portfolio professionals have deemed the Preliminary bid to become inappropriate. 신용카드현금화 Elliott Associates thinks the Preliminary bid “considerably undervalues Lexar,” and feels Lexar is worth concerning $1.five billion and $two.4 billion. The estimate is well previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too lower and ought to be rejected by shareholders. Micron desires to pay all-around one.10x profits for Lexar though the marketplace leader SanDisk (SNDK) is investing at four.35x profits. Lexar also provides a $400 million patent infringement lawsuit versus Toshiba that it experienced Beforehand received but is currently issue to an attraction by Toshiba.
Give it some thought using this method, A prosperous $400 million settlement in favor of Lexar would equate to all around $four.eighty three for each share in further dollars to incorporate to The existing $0.fifty four in totally free money right after financial debt that Lexar has. What this means is Micron would pay out a lot less than $five a share for Lexars assets, that is small.
There is certainly also speculation that SanDisk is very seriously thinking of using a run at buying Lexar. This may sound right considering that SanDisk would solidify its Management posture.
Additionally, SanDisk has a close Performing relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Keep tune. A special shareholder Assembly to evaluate the takeover bid has been moved to June 16. In my look at, the $10 bid undervalues http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 Lexar. Issue is will a white knight surface area?