On Friday, flash media maker Lexar Media (LEXR) been given an increased revised takeover bid from Micron Technology (MU). The revised bid sites the all-stock Trade offer at close to $10 a share, up marginally with the First bid.
But important shareholders which include billionaire investor Carl Icahn as well as hedge money and portfolio administrators have considered the Preliminary bid to get inappropriate. Elliott Associates believes the Original bid “considerably undervalues Lexar,” and feels Lexar is truly worth among $one.five billion and $two.four billion. The estimate is properly over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too low 소액결제현금화 and really should be turned down by shareholders. Micron would like to shell out all around one.10x product sales for Lexar whilst the industry chief SanDisk (SNDK) is buying and selling at four.35x revenue. Lexar also features a $400 million patent infringement lawsuit towards Toshiba that it experienced Formerly won but is currently subject to an appeal by Toshiba.
Give it some thought this way, An effective $400 million settlement in favor of Lexar would equate to all-around $4.eighty three for each share in added dollars to add to The existing $0.fifty four in absolutely free income after debt that Lexar has. This suggests Micron would spend less than $five a share for Lexars assets, which can be lower.
There exists also speculation that SanDisk is significantly pondering using a operate at attaining Lexar. This might make sense considering the fact that SanDisk would solidify its Management place.
Also, SanDisk has a close Operating romance with Toshiba, which could see SanDisk drop or decrease the https://en.search.wordpress.com/?src=organic&q=소액결제 settlement if it managed to acquire Lexar.
Remain tune. A Distinctive shareholder Assembly to overview the takeover bid has actually been moved to June 16. In my perspective, the $ten bid undervalues Lexar. Query is will a white knight floor?