On Friday, flash media maker Lexar Media (LEXR) gained a greater revised takeover bid from Micron Technology (MU). The revised bid places the all-inventory Trade offer at all around $ten a share, up marginally in the initial bid.
But main shareholders including billionaire Trader Carl Icahn in conjunction with hedge cash and portfolio managers have deemed the Preliminary bid to get inappropriate. Elliott Associates believes the Original bid “substantially undervalues Lexar,” and feels Lexar is worthy of among $one.five billion and $2.4 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 too very low and needs to be rejected by shareholders. Micron hopes to pay out close to one.10x profits for Lexar whilst the marketplace chief SanDisk (SNDK) is trading at four.35x product sales. Lexar also has a $four hundred million patent infringement lawsuit from Toshiba that it had Beforehand received but is now matter to an enchantment by Toshiba.
Think it over in this way, A prosperous $400 million settlement in favor of Lexar would equate to all over http://www.bbc.co.uk/search?q=소액결제 $4.eighty three for each share in additional dollars to incorporate to The present $0.fifty four in free of charge dollars immediately after personal debt that Lexar has. This implies Micron would pay back fewer than $5 a share for Lexars property, that's lower.
There is also speculation that SanDisk is severely contemplating using a run at obtaining Lexar. This may seem sensible because SanDisk would solidify its leadership place.
Additionally, SanDisk 정보이용료 has a detailed working marriage with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Continue to be tune. A Specific shareholder Assembly to review the takeover bid continues to be moved to June 16. In my perspective, the $10 bid undervalues Lexar. Dilemma is will a white knight surface area?