On Friday, flash media maker Lexar Media (LEXR) obtained a greater revised takeover bid from Micron Engineering (MU). The revised bid sites the all-inventory Trade offer you at all over $ten a share, up marginally in the Preliminary bid.
But significant shareholders together with billionaire Trader Carl Icahn as well as hedge money and portfolio administrators have deemed the Original bid being inappropriate. Elliott Associates believes the initial bid “substantially undervalues Lexar,” and feels Lexar is well worth involving $1.5 billion and $two.four billion. The estimate is well http://www.bbc.co.uk/search?q=소액결제 earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way way too reduced and needs to be rejected by shareholders. Micron wishes to fork out all-around one.10x sales for Lexar even though the industry leader SanDisk (SNDK) is buying and selling at four.35x gross sales. Lexar also features a 신용카드현금화 $four hundred million patent infringement lawsuit versus Toshiba that it had Formerly gained but has become issue to an attraction by Toshiba.
Think it over this way, a successful $400 million settlement in favor of Lexar would equate to all around $four.eighty three for each share in further income to include to The present $0.fifty four in totally free dollars after debt that Lexar has. This suggests Micron would shell out a lot less than $5 a share for Lexars assets, which happens to be small.
There's also speculation that SanDisk is very seriously considering having a operate at getting Lexar. This might seem sensible given that SanDisk would solidify its Management situation.
In addition, SanDisk has an in depth Doing work partnership with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to amass Lexar.
Keep tune. A Distinctive shareholder meeting to evaluation the takeover bid has become moved to June 16. In my see, the $10 bid undervalues Lexar. Query is will a white knight floor?