On Friday, flash media maker Lexar Media (LEXR) https://en.search.wordpress.com/?src=organic&q=소액결제 received a higher revised takeover bid from Micron Know-how (MU). The revised bid destinations the all-stock Trade provide at all around $ten a share, up marginally from the First bid.
But important shareholders which includes billionaire investor Carl Icahn together with hedge funds and portfolio managers have considered the First bid for being inappropriate. Elliott Associates believes the Original bid “significantly undervalues Lexar,” and feels Lexar is worth amongst $1.five billion and $two.four billion. The estimate is effectively over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too lower and has to be rejected by shareholders. Micron really wants to fork out 소액결제현금화 around 1.10x income for Lexar whilst the industry chief SanDisk (SNDK) is trading at four.35x income. Lexar also includes a $400 million patent infringement lawsuit towards Toshiba that it had Earlier gained but is now subject matter to an attraction by Toshiba.
Think about it in this manner, a successful $400 million settlement in favor of Lexar would equate to around $4.83 for each share in more cash to add to The existing $0.fifty four in no cost income right after personal debt that Lexar has. This means Micron would pay back lower than $five a share for Lexars property, which is low.
There is certainly also speculation that SanDisk is seriously thinking of using a run at buying Lexar. This is able to sound right since SanDisk would solidify its leadership place.
What's more, SanDisk has an in depth Doing the job partnership with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to amass Lexar.
Continue to be tune. A Distinctive shareholder Assembly to critique the takeover bid has become moved to June 16. In my perspective, the $ten bid undervalues Lexar. Dilemma is will a white knight surface area?