On Friday, flash media maker Lexar Media (LEXR) received a higher revised takeover bid from Micron Technological innovation (MU). The revised bid locations the all-stock exchange offer at all-around $10 a share, up marginally in the Original bid.
But important shareholders together with billionaire Trader Carl Icahn in addition to hedge money and portfolio supervisors have deemed the Original bid to get inappropriate. Elliott Associates thinks the Preliminary bid “noticeably undervalues Lexar,” and feels Lexar is worthy of concerning $1.5 billion and $two.4 billion. The estimate is nicely previously 소액결제현금화 mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way way too very low and must be turned down by shareholders. Micron would like to pay back all around one.10x product sales for Lexar even though the marketplace chief SanDisk (SNDK) is buying and selling at four.35x product sales. Lexar also contains a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced Beforehand gained but is now https://www.washingtonpost.com/newssearch/?query=소액결제 subject matter to an enchantment by Toshiba.
Think about it in this manner, a successful $four hundred million settlement in favor of Lexar would equate to all-around $4.eighty three per share in supplemental funds to incorporate to the current $0.fifty four in cost-free dollars soon after financial debt that Lexar has. This means Micron would pay less than $five a share for Lexars assets, which is reduced.
You can find also speculation that SanDisk is significantly serious about having a run at getting Lexar. This is able to sound right since SanDisk would solidify its leadership situation.
What's more, SanDisk has a detailed Performing relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to accumulate Lexar.
Continue to be tune. A special shareholder meeting to evaluation the takeover bid is moved to June 16. In my watch, the $10 bid undervalues Lexar. Issue is will a white knight surface area?