On Friday, flash media maker Lexar Media (LEXR) been given a higher revised takeover bid from Micron Know-how (MU). The revised bid places the all-stock exchange offer you at all-around $10 a share, up marginally from your First bid.
But significant shareholders such as billionaire Trader Carl Icahn in conjunction with hedge money and portfolio professionals have deemed the Original bid to become inappropriate. Elliott Associates believes the First bid “significantly undervalues Lexar,” and feels Lexar is truly worth involving $one.5 billion and $two.4 billion. The estimate is perfectly over the revised takeover bid of about $827 million.
I have to concur and http://www.thefreedictionary.com/소액결제 say the revised takeover bid is way also very low and really should be turned down by shareholders. Micron really wants to shell out all-around one.10x profits for Lexar though the market chief SanDisk (SNDK) is investing at four.35x sales. Lexar also includes a $four hundred million patent infringement lawsuit versus Toshiba that it experienced Earlier won but is now matter to an attraction by Toshiba.
Think about it this fashion, An effective $four hundred million settlement in favor of Lexar would equate to all over $four.eighty three for each share in extra cash so as to add to The present $0.fifty four in totally free hard cash immediately after credit card debt that Lexar has. This means Micron would shell out lower than $five a share for Lexars assets, which is very low.
There exists also speculation that SanDisk is seriously thinking of using a operate at buying Lexar. This could sound right because SanDisk would solidify its Management 소액결제현금화 placement.
Additionally, SanDisk has a close Functioning relationship with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to accumulate Lexar.
Keep tune. A Exclusive shareholder meeting to overview the takeover bid has actually been moved to June sixteen. In my perspective, the $10 bid undervalues Lexar. Question is will a white knight surface?