On Friday, flash media maker Lexar Media (LEXR) been given the next revised takeover bid from Micron Engineering (MU). The revised bid destinations the all-inventory Trade give at about $10 a share, up marginally with the Original bid.
But significant shareholders which include billionaire Trader Carl Icahn coupled with hedge cash and portfolio supervisors 신용카드현금화 have considered the Original bid to get inappropriate. Elliott Associates believes the Preliminary bid “noticeably undervalues Lexar,” and feels Lexar is value concerning $one.5 billion and $two.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 way too low and has to be turned down by shareholders. Micron would like to fork out around one.10x income for Lexar even though the industry leader SanDisk (SNDK) is buying and selling at four.35x product sales. Lexar also provides a $400 million patent infringement lawsuit in opposition to Toshiba that it had previously received but has become subject to an charm by Toshiba.
Think about it this fashion, A prosperous $400 million settlement in favor of Lexar would equate to close to $four.eighty three for each share in extra cash so as to add to The present $0.54 in totally free hard cash just after personal debt that Lexar has. This means Micron would pay a lot less than $5 a share for Lexars property, which is small.
There exists also speculation that SanDisk is severely thinking of using a run at obtaining Lexar. This may seem sensible considering the fact that SanDisk http://www.bbc.co.uk/search?q=소액결제 would solidify its Management situation.
Also, SanDisk has a close working connection with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to accumulate Lexar.
Stay tune. A Unique shareholder meeting to critique the takeover bid has become moved to June 16. In my check out, the $ten bid undervalues Lexar. Issue is will a white knight area?