On Friday, flash media maker Lexar Media (LEXR) received a better revised takeover bid from Micron Engineering (MU). The revised bid places the all-stock exchange present at all-around $10 a share, up marginally from the Original bid.
But important shareholders together with billionaire investor Carl Icahn in addition to hedge funds and portfolio administrators have deemed the Original bid to get inappropriate. Elliott Associates believes the initial bid “significantly undervalues Lexar,” and feels Lexar is really worth between $one.5 billion and $two.4 billion. The estimate http://edition.cnn.com/search/?text=소액결제 is properly earlier mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way way too small and has to be rejected by shareholders. Micron really wants to pay out all around one.10x profits for Lexar although the marketplace leader SanDisk (SNDK) is investing at four.35x income. Lexar also features a $four hundred million patent infringement lawsuit towards Toshiba that it had 소액결제정책 Earlier received but is now matter to an appeal by Toshiba.
Give it some thought by doing this, a successful $400 million settlement in favor of Lexar would equate to all-around $4.eighty three for every share in added funds to incorporate to The existing $0.fifty four in totally free income right after credit card debt that Lexar has. This suggests Micron would fork out less than $5 a share for Lexars belongings, that is reduced.
There is also speculation that SanDisk is seriously thinking of having a run at acquiring Lexar. This might make sense given that SanDisk would solidify its leadership situation.
In addition, SanDisk has a close Operating relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Continue to be tune. A Unique shareholder Assembly to critique the takeover bid has become moved to June sixteen. In my perspective, the $ten bid undervalues Lexar. Dilemma is will a white knight area?