On Friday, flash media maker Lexar 정보이용료 Media (LEXR) been given a greater revised takeover bid from Micron Technological know-how (MU). The revised bid locations the all-stock exchange offer you at all over $ten a share, up marginally from your Preliminary bid.
But significant shareholders like billionaire investor Carl Icahn along with hedge money and portfolio professionals have deemed the First bid for being inappropriate. Elliott Associates thinks the Preliminary bid “substantially undervalues Lexar,” and feels Lexar is truly worth among $one.five billion and $2.four billion. The estimate is perfectly over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too very low and ought to be rejected by shareholders. Micron wants to pay back close to 1.10x gross sales for Lexar though the market chief SanDisk (SNDK) is investing at 4.35x revenue. Lexar also has a $four hundred million patent infringement lawsuit against Toshiba that it had Earlier received but has become subject matter to an charm by Toshiba.
Think it over this fashion, A prosperous $four hundred million settlement in favor of Lexar would equate to about $4.83 for each share in additional income to incorporate to The existing $0.54 in no cost income soon after debt that Lexar has. This means Micron would shell out less than $5 a share for Lexars property, which happens to be minimal.
There may be also speculation that SanDisk is severely pondering using a operate at buying Lexar. This would make https://en.wikipedia.org/wiki/?search=소액결제 sense since SanDisk would solidify its leadership place.
Furthermore, SanDisk has a close Doing the job partnership with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Continue to be tune. A Specific shareholder Conference to assessment the takeover bid has become moved to June sixteen. In my watch, the $ten bid undervalues Lexar. Concern is will a white knight floor?