On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Know-how (MU). The revised bid sites the all-stock exchange present at all-around $ten a share, up marginally with the First bid.
But key shareholders including billionaire investor Carl Icahn along with hedge funds and portfolio administrators have considered the First bid to generally 정보이용료 be inappropriate. Elliott Associates thinks the First bid “substantially undervalues Lexar,” and feels Lexar is value involving $1.5 billion and $2.4 billion. The estimate is effectively higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way way too reduced and should be rejected by shareholders. Micron would like to shell out all around one.10x product sales for Lexar though the marketplace chief SanDisk (SNDK) is investing at 4.35x revenue. Lexar also has a $400 million patent infringement lawsuit versus Toshiba that it had previously received but is currently matter to an attractiveness by Toshiba.
Think it over by doing this, a successful $400 million settlement in favor of Lexar would equate to all around $4.83 for each share in supplemental funds so as to add to The existing $0.fifty four in no cost income after financial debt that Lexar has. https://www.washingtonpost.com/newssearch/?query=소액결제 This means Micron would pay out a lot less than $5 a share for Lexars belongings, that's very low.
There may be also speculation that SanDisk is critically considering getting a operate at buying Lexar. This could make sense considering that SanDisk would solidify its Management placement.
In addition, SanDisk has an in depth Operating marriage with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Continue to be tune. A Unique shareholder meeting to assessment the takeover bid is moved to June 16. In my see, the $10 bid undervalues Lexar. Dilemma is will a white knight floor?