On Friday, flash media maker Lexar Media (LEXR) been given a higher revised takeover bid from Micron Engineering (MU). The revised bid areas the all-stock Trade supply at all over $10 a share, up marginally from the Original bid.
But major shareholders together with billionaire investor Carl Icahn coupled with hedge cash and portfolio supervisors have considered the Preliminary bid to be inappropriate. Elliott Associates thinks the Preliminary bid “drastically undervalues Lexar,” and feels Lexar is truly worth in between $one.five billion and $two.4 billion. The estimate is very well over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too lower and should be rejected by shareholders. Micron really wants to pay back all-around 1.10x profits for Lexar even though the market leader SanDisk (SNDK) is buying and selling at 4.35x profits. Lexar also provides a $400 million patent infringement lawsuit in opposition to Toshiba that it had Beforehand won but is currently topic to an charm by Toshiba.
Consider it using 소액결제현금화 this method, a successful $400 million settlement in favor of Lexar would equate to around $four.83 for every share in more funds to add to the current $0.fifty four in absolutely free hard cash immediately after debt that Lexar has. This suggests Micron would spend less than $5 a share for Lexars property, which can be small.
There is also speculation that SanDisk is seriously considering having a run at obtaining Lexar. This could sound right given that SanDisk would solidify its leadership placement.
Moreover, SanDisk has a detailed Functioning relationship with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Remain tune. A Distinctive shareholder meeting to overview the takeover bid has been moved to June sixteen. In my look at, the $ten https://en.wikipedia.org/wiki/?search=소액결제 bid undervalues Lexar. Dilemma is will a white knight surface?