On Friday, flash media maker Lexar Media (LEXR) obtained a better revised takeover bid from Micron Engineering (MU). The revised bid locations the all-stock exchange give at about $10 a share, up marginally from your Original bid.
But important shareholders including billionaire Trader Carl Icahn as well as hedge cash and portfolio administrators have considered the initial bid for being inappropriate. Elliott Associates thinks the First bid “considerably undervalues Lexar,” and feels Lexar is well worth in between $one.5 billion and $two.four billion. The estimate is well higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way as well reduced and has to be turned down by shareholders. Micron hopes to pay about one.10x 정보이용료 profits for Lexar even though the market chief SanDisk (SNDK) is trading at 4.35x revenue. Lexar also incorporates a $four hundred million patent infringement lawsuit versus Toshiba that it had previously received but is now matter to an attractiveness by Toshiba.
Think about it this fashion, a successful $four hundred million settlement in favor of Lexar would equate to around $4.83 per share in added hard cash to include to The existing $0.54 in no cost funds immediately after credit card debt that Lexar has. This means Micron would shell out less than $five a share for Lexars property, which can be very low.
There is certainly also speculation that SanDisk is significantly thinking of having a operate at attaining Lexar. This would seem sensible due to the fact SanDisk https://en.search.wordpress.com/?src=organic&q=소액결제 would solidify its Management placement.
What's more, SanDisk has a close Doing work romance with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Stay tune. A special shareholder Conference to assessment the takeover bid is moved to June 16. In my see, the $ten bid undervalues Lexar. Issue is will a white knight floor?