On Friday, flash media maker Lexar Media (LEXR) acquired a greater revised takeover bid from Micron Technology (MU). The revised bid locations the all-stock Trade offer you at around $10 a share, up marginally from the First bid.
But important shareholders together with billionaire investor Carl Icahn in conjunction with hedge resources and portfolio professionals have considered the Preliminary bid being inappropriate. Elliott Associates thinks the initial bid “appreciably undervalues Lexar,” and feels Lexar is value in between $1.5 billion and $two.four billion. The estimate is effectively above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way also lower and really should be turned down by shareholders. Micron desires to pay out all around one.10x sales for Lexar though the market chief SanDisk (SNDK) is buying and selling at 4.35x product sales. Lexar also contains a $four hundred million patent infringement lawsuit towards Toshiba that it experienced Earlier received but is now matter to an attraction by Toshiba.
Consider it in this way, A prosperous $400 million settlement in favor of Lexar would equate to all-around $four.83 per share in additional income to incorporate to The present $0.54 in totally free funds just after financial debt that Lexar has. What this means is Micron would fork out less than $5 a share for Lexars assets, which is low.
There may be also speculation that SanDisk is critically thinking about using a run at getting Lexar. This would make sense since SanDisk would solidify its Management posture.
What's more, SanDisk has an in depth 정보이용료 Functioning romance with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Keep tune. A special shareholder Conference to evaluate the https://en.wikipedia.org/wiki/?search=소액결제 takeover bid has become moved to June sixteen. In my look at, the $ten bid undervalues Lexar. Query is will a white knight surface?