On Friday, flash media maker Lexar Media (LEXR) acquired an increased revised takeover bid from Micron Technology (MU). The revised bid spots the all-inventory Trade offer you at all-around $ten a share, up marginally from your First bid.
But important shareholders which include billionaire Trader Carl Icahn along with hedge money and portfolio managers have considered the Original bid to generally be inappropriate. Elliott Associates believes the First bid “drastically undervalues Lexar,” and feels Lexar is value concerning $1.5 billion and $two.4 billion. The estimate is effectively earlier mentioned the revised takeover bid of about $827 million.
I have to concur and say the http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 revised takeover bid is way way too low and needs to be turned down by shareholders. Micron wants to pay out all over 1.10x gross sales for Lexar even though the marketplace chief SanDisk (SNDK) is trading at 4.35x revenue. Lexar also contains a $four hundred million patent infringement lawsuit towards Toshiba that it had Beforehand received but has become subject to an enchantment by Toshiba.
Think about it in this way, A prosperous 정보이용료 $400 million settlement in favor of Lexar would equate to all around $4.eighty three for each share in added cash to incorporate to The existing $0.fifty four in totally free money immediately after personal debt that Lexar has. This implies Micron would pay fewer than $5 a share for Lexars assets, which can be very low.
There is also speculation that SanDisk is critically thinking about having a run at attaining Lexar. This may seem sensible considering the fact that SanDisk would solidify its leadership placement.
Also, SanDisk has an in depth Functioning marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Continue to be tune. A special shareholder Conference to assessment the takeover bid continues to be moved to June 16. In my perspective, the $10 bid undervalues Lexar. Dilemma is will a white knight floor?