On Friday, flash media maker Lexar Media (LEXR) been given the next revised takeover bid from Micron Technologies (MU). The revised bid areas the all-inventory Trade offer at all around $10 a share, up marginally in the First bid.
But key shareholders including billionaire investor Carl Icahn together with hedge funds and portfolio professionals have deemed the Original bid to generally be inappropriate. Elliott Associates thinks the First bid “substantially undervalues Lexar,” and feels Lexar is value among $one.five billion and $2.4 billion. The estimate is effectively previously mentioned the revised takeover bid of about http://edition.cnn.com/search/?text=소액결제 $827 million.
I must concur and say the revised takeover bid is way far too low and must be turned down by shareholders. Micron wishes to spend all-around one.10x gross sales for Lexar although the market leader SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also incorporates a $four hundred million patent infringement lawsuit against Toshiba that it experienced previously won but is currently subject to an attraction by Toshiba.
Consider it using this method, A prosperous $400 million settlement in favor of Lexar would equate to all-around $four.83 per share in more funds so as to add to the current $0.54 in free of charge funds following debt that Lexar has. This means Micron would pay back lower than $five a share for Lexars belongings, which is very low.
You can find also speculation that SanDisk is critically thinking of 소액결제현금화 taking a operate at obtaining Lexar. This is able to make sense since SanDisk would solidify its Management place.
What's more, SanDisk has a close Doing the job marriage with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Keep tune. A Distinctive shareholder Conference to critique the takeover bid is moved to June 16. In my look at, the $ten bid undervalues Lexar. Question is will a white knight surface?