On Friday, flash media maker Lexar Media (LEXR) obtained the next revised takeover bid from Micron Technology (MU). The revised bid areas the all-stock exchange present 소액결제정책 at around $ten a share, up marginally from the Preliminary bid.
But significant shareholders including billionaire Trader Carl Icahn as well as hedge funds and portfolio administrators have considered the initial bid being inappropriate. Elliott Associates thinks the initial bid “significantly undervalues Lexar,” and feels Lexar is worth concerning $one.five billion and $two.4 billion. The estimate is effectively above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way too small and should be turned down by shareholders. Micron really wants to pay out about 1.10x profits for Lexar although the market chief SanDisk (SNDK) is investing at four.35x profits. Lexar also incorporates a $400 million patent infringement lawsuit from Toshiba that it had Formerly gained but is now topic to an attraction by Toshiba.
Think it over this way, http://www.bbc.co.uk/search?q=소액결제 An effective $400 million settlement in favor of Lexar would equate to about $4.83 per share in supplemental funds to add to the current $0.54 in absolutely free income right after financial debt that Lexar has. This suggests Micron would pay lower than $five a share for Lexars property, which can be reduced.
You can find also speculation that SanDisk is critically contemplating using a run at attaining Lexar. This would seem sensible considering that SanDisk would solidify its leadership position.
Additionally, SanDisk has a detailed Performing marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Keep tune. A special shareholder Assembly to overview the takeover bid continues to be moved to June sixteen. In my see, the $ten bid undervalues Lexar. Dilemma is will a white knight floor?