On Friday, flash media maker Lexar Media (LEXR) acquired an increased revised takeover bid from Micron Technologies (MU). The revised bid areas the all-stock Trade provide at http://edition.cnn.com/search/?text=소액결제 all over $10 a share, up marginally within the initial bid.
But main shareholders like billionaire Trader Carl Icahn in conjunction with hedge funds and portfolio managers have 신용카드현금화 considered the Preliminary bid to become inappropriate. Elliott Associates thinks the Preliminary bid “considerably undervalues Lexar,” and feels Lexar is truly worth between $one.5 billion and $2.4 billion. The estimate is effectively above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way also small and has to be turned down by shareholders. Micron really wants to fork out close to one.10x revenue for Lexar though the marketplace leader SanDisk (SNDK) is trading at 4.35x revenue. Lexar also includes a $400 million patent infringement lawsuit in opposition to Toshiba that it experienced Earlier received but is currently issue to an appeal by Toshiba.
Give it some thought by doing this, An effective $four hundred million settlement in favor of Lexar would equate to about $four.eighty three for every share in supplemental money so as to add to The present $0.54 in totally free dollars right after debt that Lexar has. What this means is Micron would pay a lot less than $five a share for Lexars assets, that's very low.
There exists also speculation that SanDisk is very seriously considering getting a run at getting Lexar. This would seem sensible considering the fact that SanDisk would solidify its leadership position.
Furthermore, SanDisk has a close Performing connection with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to amass Lexar.
Stay tune. A special shareholder Assembly to overview the takeover bid has been moved to June sixteen. In my watch, the $ten bid undervalues Lexar. Issue is will a white knight surface?