On Friday, flash media maker Lexar Media (LEXR) obtained an increased revised takeover bid from Micron Engineering (MU). The revised bid sites the all-inventory exchange supply at all-around $10 a share, up marginally from the initial bid.
But major shareholders which includes billionaire investor Carl Icahn along with hedge cash and portfolio professionals have 소액결제정책 deemed the initial bid to get inappropriate. Elliott Associates thinks the Original bid “drastically undervalues Lexar,” and feels Lexar is worth amongst $one.5 billion and $two.four billion. The estimate is nicely above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too reduced https://en.search.wordpress.com/?src=organic&q=소액결제 and really should be turned down by shareholders. Micron wants to shell out all-around one.10x profits for Lexar when the marketplace chief SanDisk (SNDK) is buying and selling at 4.35x sales. Lexar also features a $400 million patent infringement lawsuit towards Toshiba that it had previously won but is currently topic to an charm by Toshiba.
Think about it in this way, An effective $400 million settlement in favor of Lexar would equate to around $four.83 for every share in additional funds to incorporate to the current $0.fifty four in totally free funds immediately after financial debt that Lexar has. This implies Micron would pay back less than $5 a share for Lexars assets, and that is reduced.
There is certainly also speculation that SanDisk is seriously considering taking a run at buying Lexar. This could make sense considering the fact that SanDisk would solidify its leadership posture.
Also, SanDisk has a close Doing work romance with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to amass Lexar.
Keep tune. A Exclusive shareholder meeting to evaluate the takeover bid has become moved to June 16. In my watch, the $10 bid undervalues Lexar. Problem is will a white knight area?