On Friday, flash media maker Lexar Media (LEXR) gained a greater revised takeover bid from Micron Technological know-how (MU). The revised bid places the all-stock exchange offer you at all over $10 a share, up marginally with the Preliminary bid.
But major shareholders which include billionaire Trader Carl Icahn as well as hedge cash and portfolio administrators have considered the Preliminary bid for being inappropriate. Elliott Associates thinks the Original bid “substantially undervalues Lexar,” and feels Lexar is worthy of involving $1.5 billion and $two.4 billion. The estimate is properly above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way too minimal and must be turned down by shareholders. Micron wants to fork out about one.10x gross sales for Lexar while the industry leader SanDisk (SNDK) is investing at four.35x gross sales. Lexar also contains a $400 million patent infringement lawsuit in opposition to Toshiba that it had Beforehand won but is now subject matter to an enchantment by Toshiba.
Think it over this way, a successful $400 million https://en.wikipedia.org/wiki/?search=소액결제 settlement in favor of Lexar would equate to all-around $4.eighty three for each share in added money so as to add to the current $0.fifty 신용카드현금화 four in no cost funds after financial debt that Lexar has. What this means is Micron would shell out below $5 a share for Lexars property, which happens to be small.
There's also speculation that SanDisk is critically thinking about getting a run at acquiring Lexar. This could seem sensible due to the fact SanDisk would solidify its leadership posture.
What's more, SanDisk has an in depth Doing the job marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Remain tune. A Exclusive shareholder Conference to critique the takeover bid has been moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Concern is will a white knight surface area?