On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technological know-how (MU). The revised bid locations the all-stock Trade offer you at around $ten a share, up marginally with the Original bid.
But important shareholders together with billionaire investor Carl Icahn along with http://www.bbc.co.uk/search?q=소액결제 hedge funds and portfolio professionals have deemed the Original bid being inappropriate. Elliott Associates believes the Original bid “noticeably undervalues Lexar,” and feels Lexar is value amongst $one.five billion and $2.4 billion. The estimate is effectively earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too low and ought to be turned down by shareholders. Micron would like to pay out all over one.10x revenue for Lexar although the marketplace chief SanDisk (SNDK) is trading at four.35x profits. Lexar also has a $four hundred million patent infringement lawsuit versus Toshiba that it had previously won but is now subject to an attractiveness by Toshiba.
Think about it in this way, An effective 신용카드현금화 $four hundred million settlement in favor of Lexar would equate to about $4.eighty three per share in additional cash to add to The existing $0.fifty four in totally free income just after credit card debt that Lexar has. This suggests Micron would shell out a lot less than $5 a share for Lexars assets, which can be small.
There may be also speculation that SanDisk is severely thinking of getting a run at getting Lexar. This may sound right since SanDisk would solidify its leadership situation.
In addition, SanDisk has a detailed working romance with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to acquire Lexar.
Keep tune. A Unique shareholder Assembly to critique the takeover bid is moved to June sixteen. In my check out, the $10 bid undervalues Lexar. Issue is will a white knight surface area?