On Friday, flash media maker Lexar Media (LEXR) obtained a greater revised takeover bid from Micron Technology (MU). The revised bid destinations the all-stock exchange offer you at about $ten a share, up marginally in the Original bid.
But important shareholders like billionaire investor Carl Icahn along with hedge money and portfolio supervisors have deemed the initial bid to be inappropriate. Elliott Associates believes the First bid “substantially undervalues Lexar,” and feels Lexar is well worth involving $one.5 billion and $two.4 billion. The estimate is perfectly over the revised takeover bid of about $827 million.
I 소액결제정책 have to concur and say the revised takeover bid is way way too very low and ought to be rejected by shareholders. Micron would like to pay about 1.10x sales for Lexar while the industry leader SanDisk (SNDK) is investing at 4.35x gross sales. Lexar also provides a $400 million patent infringement lawsuit against Toshiba that it had Beforehand gained but is currently topic to an attractiveness by Toshiba.
Think it over in this manner, A prosperous $four hundred million settlement in favor of Lexar would equate to all-around $four.83 for every share in additional income to incorporate to The existing $0.fifty four in cost-free funds soon after debt that Lexar has. This suggests Micron would pay back fewer than $five a share for Lexars belongings, and that is lower.
You can find also speculation that SanDisk is severely considering having a run at obtaining Lexar. This is able to seem sensible given that SanDisk would solidify its Management placement.
Moreover, SanDisk has a close Doing work partnership with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to acquire Lexar.
Remain tune. A Unique shareholder Conference to evaluation the takeover bid has been moved to June sixteen. In my http://edition.cnn.com/search/?text=소액결제 look at, the $ten bid undervalues Lexar. Problem is will a white knight floor?