On Friday, flash media http://edition.cnn.com/search/?text=소액결제 maker Lexar Media (LEXR) been given a greater revised takeover bid from Micron Technology (MU). The revised bid spots the all-stock Trade offer you at close to $ten a share, up marginally with the First bid.
But major shareholders including billionaire Trader Carl Icahn as well as hedge money and portfolio managers have considered the Preliminary bid being inappropriate. Elliott Associates believes the Original bid “noticeably undervalues Lexar,” and feels Lexar is really worth amongst $one.5 billion and $2.four billion. The estimate is very well higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way much too lower and needs to be turned down 소액결제정책 by shareholders. Micron wishes to pay close to 1.10x product sales for Lexar while the marketplace chief SanDisk (SNDK) is trading at 4.35x sales. Lexar also features a $400 million patent infringement lawsuit towards Toshiba that it had Earlier gained but is now issue to an enchantment by Toshiba.
Give it some thought this fashion, A prosperous $400 million settlement in favor of Lexar would equate to close to $four.eighty three for every share in more dollars to add to The present $0.fifty four in absolutely free hard cash just after financial debt that Lexar has. This means Micron would spend less than $5 a share for Lexars belongings, which happens to be reduced.
There exists also speculation that SanDisk is seriously serious about using a run at obtaining Lexar. This could seem sensible considering that SanDisk would solidify its leadership place.
In addition, SanDisk has a close working romance with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Stay tune. A Specific shareholder Assembly to overview the takeover bid is moved to June 16. In my check out, the $ten bid undervalues Lexar. Question is will a white knight surface area?