On Friday, flash media maker Lexar Media (LEXR) obtained a greater revised takeover bid from Micron Technological know-how (MU). The revised bid destinations the all-inventory Trade offer at about $10 a share, up marginally from the Preliminary bid.
But big shareholders which include billionaire Trader Carl Icahn along with hedge resources and portfolio administrators have deemed the First bid to be inappropriate. Elliott Associates believes the First bid “considerably undervalues Lexar,” 정보이용료 and feels Lexar is really worth among $one.5 billion and $two.four billion. The estimate is well over the revised takeover bid of about $827 million.
I have 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 pay about one.10x sales for Lexar though the market chief SanDisk (SNDK) is trading at 4.35x profits. Lexar also contains a $400 million patent infringement lawsuit from Toshiba that it experienced Formerly gained but is now matter to an attractiveness by Toshiba.
Think about it using this method, a successful $400 million settlement in favor of Lexar would equate to about $4.83 for each share in more dollars to add http://edition.cnn.com/search/?text=소액결제 to The existing $0.fifty four in free money immediately after debt that Lexar has. What this means is Micron would pay back lower than $five a share for Lexars property, which is reduced.
You can find also speculation that SanDisk is significantly thinking of taking a operate at acquiring Lexar. This would sound right given that SanDisk would solidify its leadership posture.
What's more, SanDisk has a detailed Operating romantic relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to amass Lexar.
Continue to be tune. A Particular shareholder Conference to evaluate the takeover bid has been moved to June 16. In my see, the $ten bid undervalues Lexar. Query is will a white knight floor?