On Friday, flash media maker Lexar Media (LEXR) obtained a better revised takeover bid from Micron Technological innovation (MU). The revised bid sites the all-inventory Trade offer at about 정보이용료 $ten a share, up marginally in the First bid.
But significant shareholders like billionaire investor Carl Icahn along with hedge money and portfolio administrators have considered the Preliminary bid to be inappropriate. Elliott Associates thinks the Original bid “drastically undervalues Lexar,” and feels Lexar is worthy of in between $one.five billion and $2.4 billion. The estimate is effectively earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too lower and really should be rejected https://www.washingtonpost.com/newssearch/?query=소액결제 by shareholders. Micron wishes to spend about 1.10x revenue for Lexar when the marketplace chief SanDisk (SNDK) is investing at four.35x gross sales. Lexar also incorporates a $four hundred million patent infringement lawsuit against Toshiba that it experienced Beforehand received but is currently issue to an attraction by Toshiba.
Think it over this fashion, An effective $four hundred million settlement in favor of Lexar would equate to around $four.eighty three for each share in further dollars to include to The existing $0.fifty four in no cost cash immediately after credit card debt that Lexar has. This implies Micron would pay back lower than $five a share for Lexars belongings, which happens to be reduced.
There may be also speculation that SanDisk is seriously thinking of using a operate at acquiring Lexar. This would make sense due to the fact SanDisk would solidify its Management place.
Additionally, SanDisk has an in depth Functioning relationship with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to obtain Lexar.
Remain tune. A special shareholder Assembly to evaluate the takeover bid has long been moved to June sixteen. In my view, the $ten bid undervalues Lexar. Query is will a white knight floor?