On Friday, flash media maker Lexar Media (LEXR) obtained a better revised takeover https://www.washingtonpost.com/newssearch/?query=소액결제 bid from Micron Technologies (MU). The revised bid areas the all-inventory exchange present at all around $10 a share, up marginally in the Preliminary bid.
But big shareholders like billionaire Trader Carl Icahn as well as hedge money and portfolio administrators have deemed the Preliminary bid to become inappropriate. Elliott Associates believes the First bid “substantially undervalues Lexar,” and feels Lexar is really worth in between $one.5 billion and $2.4 billion. The estimate is effectively over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way as well very low and really should be rejected by shareholders. Micron wants to pay out around 1.10x product sales for Lexar whilst the industry leader SanDisk (SNDK) is investing at 4.35x sales. Lexar also has a $four hundred million patent infringement lawsuit versus Toshiba that it experienced Formerly won but is currently issue to an attractiveness by Toshiba.
Think about it this way, a successful $400 million settlement in favor of Lexar would equate to all around $four.83 for every share in supplemental hard cash to include to The existing $0.fifty four in free money soon after debt that Lexar has. This implies Micron would fork out lower than $five a share for Lexars assets, which can be low.
There exists also speculation that SanDisk is significantly considering using a operate at attaining Lexar. This might sound right considering the fact that SanDisk would solidify its leadership place.
Moreover, SanDisk has an in depth Doing the job romantic relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed 정보이용료 to accumulate Lexar.
Remain tune. A Exclusive shareholder Assembly to assessment the takeover bid has been moved to June sixteen. In my look at, the $10 bid undervalues Lexar. Query is will a white knight area?