On Friday, flash media maker Lexar Media (LEXR) obtained a greater revised takeover bid from Micron Technological innovation (MU). The https://en.search.wordpress.com/?src=organic&q=소액결제 revised bid spots the all-inventory exchange present at all around $10 a share, up marginally from your First bid.
But important shareholders which include billionaire 소액결제현금화 investor Carl Icahn coupled with hedge cash and portfolio supervisors have deemed the First bid to be inappropriate. Elliott Associates believes the initial bid “substantially undervalues Lexar,” and feels Lexar is truly worth concerning $1.five billion and $two.four billion. The estimate is perfectly above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way as well very low and really should be rejected by shareholders. Micron really wants to pay back about 1.10x gross sales for Lexar whilst the market chief SanDisk (SNDK) is buying and selling at four.35x gross sales. Lexar also has a $four hundred million patent infringement lawsuit in opposition to Toshiba that it had Formerly won but is currently matter to an attraction by Toshiba.
Think it over in this manner, An effective $400 million settlement in favor of Lexar would equate to all around $four.eighty three for each share in further money to include to the current $0.54 in absolutely free cash immediately after debt that Lexar has. What this means is Micron would pay fewer than $five a share for Lexars property, that is small.
There's also speculation that SanDisk is significantly contemplating using a operate at buying Lexar. This would seem sensible because SanDisk would solidify its Management place.
Also, SanDisk has a close Performing romantic relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to amass Lexar.
Remain tune. A Particular shareholder meeting to evaluate the takeover bid has long been moved to June sixteen. In my check out, the $10 bid undervalues Lexar. Query is will a white knight area?