On Friday, flash media maker Lexar Media (LEXR) obtained the next revised takeover bid from Micron Technology (MU). The revised bid locations the all-stock Trade give at all over $ten a share, up marginally through the Original bid.
But key shareholders like billionaire investor Carl Icahn along with hedge cash and portfolio administrators have considered the Original bid for being inappropriate. Elliott Associates believes the initial bid “noticeably undervalues Lexar,” and feels Lexar is truly worth among $1.five 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 way too minimal and should be turned down by shareholders. Micron wants to spend about one.10x revenue for Lexar although the marketplace leader SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also provides a $400 million patent infringement lawsuit versus Toshiba that it had Beforehand won but has become issue to an appeal by Toshiba.
Think it over by doing this, A prosperous $400 million settlement in favor of 신용카드현금화 Lexar would equate to all over $4.83 per share in further hard cash so as to add to the current $0.fifty four in free of charge funds soon after financial debt that Lexar has. This means Micron would pay less than $five a share for Lexars belongings, that is lower.
There may be also speculation that SanDisk is seriously contemplating http://edition.cnn.com/search/?text=소액결제 having a run at obtaining Lexar. This may seem sensible given that SanDisk would solidify its Management situation.
Also, SanDisk has an in depth working partnership with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to accumulate Lexar.
Continue to be tune. A Exclusive shareholder Conference to assessment the takeover bid has actually been moved to June sixteen. In my see, the $ten bid undervalues Lexar. Issue is will a white knight surface area?