On Friday, flash media maker Lexar Media (LEXR) obtained a better revised takeover bid from Micron Technological innovation (MU). The revised bid spots the all-inventory Trade provide at about $ten a share, up 소액결제현금화 marginally with the First bid.
But main shareholders like billionaire investor Carl Icahn coupled with hedge cash and portfolio administrators have deemed the First bid to generally be inappropriate. Elliott Associates believes the initial bid “noticeably undervalues Lexar,” and feels Lexar is well worth concerning $one.5 billion and $two.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 far too low and ought to be turned down by shareholders. Micron wishes to shell out all around one.10x income for Lexar whilst the industry chief SanDisk (SNDK) https://en.search.wordpress.com/?src=organic&q=소액결제 is trading at four.35x product sales. Lexar also contains a $400 million patent infringement lawsuit versus Toshiba that it had Beforehand gained but is now subject matter to an appeal by Toshiba.
Consider it this way, An effective $four hundred million settlement in favor of Lexar would equate to close to $4.eighty three for each share in added hard cash to include to The present $0.fifty four in totally free cash following credit card debt that Lexar has. This means Micron would spend lower than $5 a share for Lexars property, which can be small.
There exists also speculation that SanDisk is critically contemplating getting a operate at acquiring Lexar. This could seem sensible given that SanDisk would solidify its Management position.
Furthermore, SanDisk has a detailed Doing the job connection with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to acquire Lexar.
Continue to be tune. A Unique shareholder Assembly to evaluate the takeover bid continues to be moved to June 16. In my watch, the $10 bid undervalues Lexar. Issue is will a white knight surface area?