On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technologies (MU). The revised bid areas the all-stock exchange offer at about $10 a share, up marginally from your Original bid.
But major shareholders including billionaire investor Carl Icahn in addition to hedge funds and portfolio managers have deemed the First bid to be inappropriate. Elliott Associates believes the Original bid “significantly undervalues Lexar,” and feels Lexar is worthy of 신용카드현금화 between $one.five billion and $2.four billion. The estimate is perfectly previously mentioned 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 really wants to pay back about 1.10x sales for Lexar though the industry chief SanDisk (SNDK) is trading at four.35x gross sales. Lexar also includes a $four hundred million patent infringement lawsuit from Toshiba that it had Formerly received but is currently issue to an charm by Toshiba.
Think about it using this method, a successful $400 million settlement in favor of Lexar would equate to all around $four.83 for each share in supplemental income so as to add to the current $0.54 in no cost income following personal debt that Lexar has. What this means is Micron would pay back under $5 a share for Lexars assets, and that is minimal.
You can find also speculation that SanDisk is critically contemplating using a operate at acquiring Lexar. This may sound right considering the fact that SanDisk would solidify its Management place.
Moreover, SanDisk has an in depth Doing the job romantic relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to accumulate Lexar.
Stay tune. A Exclusive shareholder Conference to overview the http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 takeover bid has been moved to June sixteen. In my see, the $ten bid undervalues Lexar. Concern is will a white knight surface?