On Friday, flash media maker Lexar Media (LEXR) acquired an increased revised takeover bid from Micron Engineering (MU). The revised bid locations the all-inventory Trade give at around $10 a share, up marginally in the Original bid.
But significant shareholders such as billionaire Trader Carl Icahn in addition to hedge money and portfolio supervisors have deemed the First bid to be inappropriate. Elliott Associates believes the Original bid “appreciably undervalues Lexar,” and feels Lexar is value involving $1.five billion and $two.4 billion. The estimate is properly earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way much too low and must be rejected by shareholders. Micron hopes to pay about one.10x gross sales for Lexar when the marketplace leader SanDisk (SNDK) is investing at 4.35x product sales. Lexar also provides a $400 million patent infringement lawsuit in opposition to Toshiba that it experienced previously gained but has become issue to an attractiveness by Toshiba.
Think about it this fashion, An effective $400 million settlement in favor of Lexar would equate to around $four.eighty three for every share in added hard cash to incorporate to the current $0.54 in free of charge money soon after debt that 소액결제정책 Lexar has. What this means is Micron would pay below $5 a share for Lexars property, and that is minimal.
There exists also speculation that SanDisk is very seriously serious about having a operate at buying Lexar. This may seem sensible because SanDisk would solidify its leadership posture.
Moreover, SanDisk has an in depth Doing the job marriage with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to amass Lexar.
Remain tune. A Distinctive shareholder meeting to assessment the takeover bid continues to be moved to June sixteen. In my see, the $10 bid undervalues Lexar. Question is will a white knight https://en.wikipedia.org/wiki/?search=소액결제 area?