On Friday, flash media maker Lexar Media (LEXR) gained a better revised takeover bid from Micron Technological innovation (MU). The revised bid locations the all-stock exchange offer you at about $10 a share, up marginally from your Original bid.
But significant shareholders together with billionaire investor Carl Icahn along with hedge cash and portfolio supervisors have deemed the Preliminary bid to become inappropriate. Elliott Associates thinks the First bid “substantially undervalues Lexar,” and feels Lexar is well worth amongst $1.5 billion and $2.four billion. The estimate is nicely earlier mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid https://en.wikipedia.org/wiki/?search=소액결제 is way also low and has to be turned down by shareholders. Micron really wants to shell out close to 1.10x product sales for Lexar while the market chief SanDisk (SNDK) is trading at 4.35x product sales. Lexar also has a $400 million patent infringement lawsuit in opposition to Toshiba that it had Beforehand received but is currently subject to an enchantment by Toshiba.
Think about it this way, A prosperous $400 million settlement in favor of Lexar would equate to about $four.eighty three for every share in more money to include to The existing $0.fifty four in free of charge hard cash after personal debt that Lexar has. This means Micron would fork out under $five a share for Lexars property, that is minimal.
There may be also speculation that SanDisk is critically thinking of having 소액결제정책 a run at buying Lexar. This may seem sensible considering the fact that SanDisk would solidify its Management placement.
In addition, SanDisk has a detailed working relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Stay tune. A Distinctive shareholder Assembly to overview the takeover bid is moved to June sixteen. In my look at, the $ten bid undervalues Lexar. Question is will a white knight floor?