On Friday, flash media maker Lexar Media (LEXR) been given a greater revised takeover bid 신용카드현금화 from Micron Technologies (MU). The revised bid areas the all-stock Trade provide at close to $ten a share, up marginally with the Original bid.
But important shareholders which include billionaire Trader Carl Icahn along with hedge funds and portfolio administrators have deemed the First bid being inappropriate. Elliott Associates thinks the Preliminary bid “noticeably undervalues Lexar,” and feels Lexar is worthy of between $one.5 billion and $2.four billion. The estimate is very well previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too low and needs to be turned down by shareholders. Micron wants to shell out all over 1.10x gross sales for Lexar even though the industry chief SanDisk (SNDK) is trading at four.35x product sales. Lexar also has a $400 million patent infringement lawsuit against Toshiba that it had Earlier won but is now subject matter to an charm by Toshiba.
Give it some thought in this way, An effective $400 million settlement in favor of Lexar would equate to around $4.eighty three per share in additional cash to add to The present $0.fifty four in cost-free cash right after financial debt that Lexar has. This means Micron would pay back less than $5 a share for Lexars assets, and that is minimal.
There exists also speculation that SanDisk is significantly serious about getting a operate at attaining Lexar. This may sound right because SanDisk would solidify its leadership position. https://en.search.wordpress.com/?src=organic&q=소액결제
Additionally, SanDisk has a close Functioning partnership with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Keep tune. A Distinctive shareholder Assembly to critique the takeover bid continues to be moved to June sixteen. In my view, the $ten bid undervalues Lexar. Query is will a white knight area?