On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Technologies (MU). The revised bid locations the all-inventory exchange give at all over $ten a share, up marginally from the initial bid.
But key shareholders which includes billionaire Trader Carl Icahn coupled with hedge money and portfolio administrators have considered the Original bid being inappropriate. Elliott Associates believes the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is truly worth amongst $1.5 billion and $two.four billion. The estimate is nicely earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover http://www.thefreedictionary.com/소액결제 bid is way also small and has to be turned down by shareholders. Micron desires to shell out all around one.10x revenue for Lexar when the industry chief SanDisk (SNDK) is buying and selling at four.35x product sales. Lexar also features a $400 million patent infringement lawsuit against Toshiba that it had Beforehand won but is now matter to an attractiveness by Toshiba.
Think about it by doing this, An effective $400 million settlement in favor of Lexar would equate to all-around $four.83 for each share in further cash to add to The present $0.54 in totally free money right after debt that Lexar has. This suggests Micron would pay out lower than $5 a share for Lexars property, which can be very low.
There is also speculation that SanDisk is seriously pondering using a run at attaining Lexar. This is able to make sense given that SanDisk would solidify its Management placement.
What's more, SanDisk has a detailed Doing work relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to accumulate Lexar.
Stay tune. A Particular shareholder Conference to critique the takeover bid has actually been moved to June sixteen. In my perspective, 신용카드현금화 the $ten bid undervalues Lexar. Dilemma is will a white knight surface?