On Friday, flash media maker Lexar Media (LEXR) obtained a better revised takeover bid from Micron Technologies (MU). The revised bid areas the all-stock Trade provide at all around $10 a share, up marginally through the Preliminary bid.
But major shareholders which include billionaire Trader Carl Icahn in conjunction with hedge cash and portfolio administrators have deemed the Preliminary bid to get inappropriate. Elliott Associates believes the First bid “substantially undervalues Lexar,” and feels Lexar is really worth amongst $1.five billion and $2.four 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 way too very low and really should be turned down by shareholders. Micron wishes to fork out about 1.10x gross sales for Lexar when the marketplace chief SanDisk (SNDK) is trading at four.35x product sales. Lexar also has a $four hundred million patent infringement lawsuit from Toshiba that it experienced Formerly received but has become matter to an attractiveness by Toshiba. http://www.bbc.co.uk/search?q=소액결제
Think about it this way, A prosperous $400 million settlement in favor 정보이용료 of Lexar would equate to all around $4.eighty three for every share in further funds to include to The existing $0.54 in totally free money after debt that Lexar has. This implies Micron would fork out lower than $5 a share for Lexars property, which is low.
You can find also speculation that SanDisk is very seriously considering taking a run at buying Lexar. This may seem sensible because SanDisk would solidify its leadership placement.
In addition, SanDisk has a detailed Operating romantic relationship with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Keep tune. A Particular shareholder meeting to overview the takeover bid has been moved to June sixteen. In my check out, the $ten bid undervalues Lexar. Issue is will a white knight floor?