On Friday, flash media maker https://www.washingtonpost.com/newssearch/?query=소액결제 Lexar Media (LEXR) been given a higher revised takeover bid from Micron Technological know-how (MU). The revised bid locations the all-stock Trade provide at about $ten a share, up marginally through the Preliminary bid.
But big shareholders such as billionaire investor Carl Icahn as well as hedge resources and portfolio professionals have deemed the First bid to become inappropriate. Elliott Associates thinks the Preliminary bid “substantially undervalues Lexar,” and feels Lexar is value among $one.five billion and $two.4 billion. The estimate is very well above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too minimal and ought to be turned down by shareholders. Micron would like to pay out around one.10x gross sales for Lexar although the marketplace chief SanDisk (SNDK) is buying and selling at 4.35x profits. Lexar also has a $four hundred million patent infringement lawsuit versus Toshiba that it experienced Formerly gained but has become matter to an charm by Toshiba.
Consider it by doing this, A prosperous $400 million settlement in favor of Lexar would equate to all-around $4.eighty three per share in further hard cash to include to The existing $0.fifty four in no cost money just after debt that Lexar has. This suggests Micron would spend less than $five a share for Lexars belongings, which is reduced.
You can find also speculation that SanDisk is significantly contemplating getting a operate at buying Lexar. This could sound right considering the fact that SanDisk would solidify its leadership posture.
In addition, SanDisk has an in depth Performing relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it 신용카드현금화 managed to accumulate Lexar.
Stay tune. A Specific shareholder Assembly to review the takeover bid is moved to June sixteen. In my watch, the $ten bid undervalues Lexar. Query is will a white knight surface area?