On Friday, flash media maker Lexar Media (LEXR) gained an increased revised takeover bid from Micron Technologies (MU). The revised bid sites the all-stock exchange offer at close to $ten a share, up marginally from the initial bid.
But key shareholders including billionaire Trader Carl Icahn along with hedge resources and portfolio managers have deemed the Original bid to get inappropriate. Elliott Associates thinks the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is well worth involving $one.5 billion and $2.four billion. The estimate is effectively higher than the revised takeover https://en.wikipedia.org/wiki/?search=소액결제 bid of about $827 million.
I need to concur and say the revised takeover bid is way too minimal and needs to be rejected by shareholders. Micron would like to fork out about 1.10x product sales for Lexar even though the marketplace leader SanDisk (SNDK) is trading at 4.35x revenue. Lexar also has a $four hundred million patent infringement lawsuit from Toshiba that it had Earlier gained but is now subject to an appeal by Toshiba.
Consider it this fashion, a successful $400 소액결제현금화 million settlement in favor of Lexar would equate to all-around $four.eighty three for each share in extra income to incorporate to The present $0.fifty four in no cost cash right after personal debt that Lexar has. This implies Micron would pay lower than $5 a share for Lexars property, that is lower.
There may be also speculation that SanDisk is seriously contemplating taking a run at obtaining Lexar. This might seem sensible because SanDisk would solidify its Management placement.
Also, SanDisk has an in depth working romantic relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Stay tune. A Exclusive shareholder Conference to critique the takeover bid is moved to June 16. In my look at, the $ten bid undervalues Lexar. Problem is will a white knight area?