On Friday, flash media maker Lexar Media (LEXR) acquired a greater revised takeover bid 정보이용료 from Micron Know-how (MU). The revised bid areas the all-inventory exchange offer at about $10 a share, up marginally with the Preliminary bid.
But key shareholders which include billionaire Trader Carl Icahn in conjunction with hedge cash and portfolio managers have deemed the First bid to generally be inappropriate. Elliott Associates thinks the Original bid “substantially undervalues Lexar,” and feels Lexar is worthy of involving $one.five billion and $two.4 billion. The estimate is properly over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way way too low and ought to be rejected by shareholders. Micron wants to pay out close to 1.10x product sales for Lexar though the marketplace chief SanDisk (SNDK) is trading at four.35x gross sales. Lexar also incorporates a $400 million patent infringement lawsuit in opposition to Toshiba that it experienced Earlier gained but has become topic to an charm by Toshiba.
Think it over this way, An effective $four hundred million settlement in favor of Lexar would equate to close to $4.eighty three for each share in further dollars to add to The present $0.fifty four in http://edition.cnn.com/search/?text=소액결제 absolutely free funds immediately after credit card debt that Lexar has. This implies Micron would pay out fewer than $five a share for Lexars property, and that is small.
There may be also speculation that SanDisk is critically pondering having a operate at buying Lexar. This would seem sensible considering the fact that SanDisk would solidify its leadership position.
What's more, SanDisk has a detailed Functioning relationship with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Remain tune. A Particular shareholder Conference to evaluation the takeover bid has become moved to June 16. In my perspective, the $10 bid undervalues Lexar. Dilemma is will a white knight surface?