On Friday, flash media maker Lexar Media (LEXR) been given an increased revised takeover bid 소액결제정책 from Micron Technologies (MU). The revised bid spots the all-stock Trade give at about $ten a share, up marginally through the Preliminary bid.
But big shareholders which include billionaire investor Carl Icahn in conjunction with hedge resources and portfolio managers have considered the initial bid to become inappropriate. Elliott Associates thinks the First bid “appreciably undervalues Lexar,” and feels Lexar is really worth amongst $1.5 billion and $two.4 billion. The estimate is nicely above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too very low and has to be turned down by shareholders. Micron wants to shell out all over one.10x income for Lexar although the marketplace chief SanDisk (SNDK) is trading at four.35x sales. Lexar also has a $four hundred million patent infringement lawsuit against Toshiba that it experienced previously gained but is currently subject to an attraction by http://edition.cnn.com/search/?text=소액결제 Toshiba.
Think about it this fashion, A prosperous $400 million settlement in favor of Lexar would equate to close to $4.83 for each share in further hard cash to add to The existing $0.fifty four in no cost dollars right after debt that Lexar has. This implies Micron would fork out under $5 a share for Lexars assets, which is low.
There is also speculation that SanDisk is seriously thinking about taking a operate at acquiring Lexar. This could make sense considering that SanDisk would solidify its leadership posture.
Furthermore, SanDisk has an in depth Doing work connection with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Stay tune. A Unique shareholder Assembly to evaluation the takeover bid is moved to June sixteen. In my check out, the $10 bid undervalues Lexar. Dilemma is will a white knight surface?