On Friday, flash media maker Lexar Media (LEXR) received an increased revised takeover bid from Micron Know-how (MU). The revised bid destinations the all-stock exchange offer you at close to $ten a share, up marginally within the Original bid.
But major shareholders which includes billionaire investor Carl Icahn together with hedge resources and portfolio supervisors have considered the Original bid to generally be 소액결제현금화 inappropriate. Elliott Associates believes the Preliminary bid “substantially undervalues Lexar,” and feels Lexar is well worth between $one.five billion and $2.4 billion. The estimate is perfectly over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way much too small and needs to be rejected by shareholders. Micron really wants to pay out around 1.10x income for Lexar though the marketplace chief SanDisk (SNDK) is investing at 4.35x product sales. Lexar also has a $400 million patent infringement lawsuit towards Toshiba that it experienced Beforehand gained but is currently issue to an attractiveness by Toshiba.
Think about it in this way, An effective http://www.thefreedictionary.com/소액결제 $400 million settlement in favor of Lexar would equate to about $4.eighty three for every share in added cash to add to The present $0.54 in no cost money following credit card debt that Lexar has. What this means is Micron would spend lower than $5 a share for Lexars belongings, that's small.
There is certainly also speculation that SanDisk is very seriously serious about taking a operate at getting Lexar. This could sound right since SanDisk would solidify its leadership position.
Furthermore, SanDisk has a detailed Doing work relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Stay tune. A Exclusive shareholder meeting to evaluate the takeover bid has actually been moved to June sixteen. In my view, the $ten bid undervalues Lexar. Query is will a white knight area?