On Friday, flash media maker Lexar Media (LEXR) acquired an increased revised takeover bid from Micron Know-how (MU). The revised bid destinations the all-stock Trade give at all around $10 a share, up marginally through the First bid.
But significant shareholders which include billionaire investor Carl Icahn coupled with hedge resources and portfolio professionals have deemed the initial bid to generally be inappropriate. Elliott Associates thinks the First bid “noticeably undervalues Lexar,” and feels Lexar is really worth among $1.five billion and $2.four billion. The estimate is properly previously mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way also lower and needs to be rejected by shareholders. Micron wants to pay about one.10x income for Lexar even though the industry chief SanDisk (SNDK) is buying and selling at 4.35x sales. Lexar 소액결제정책 also features a $400 million patent infringement lawsuit against Toshiba that it experienced Earlier won but has become matter to an enchantment by Toshiba.
Think it over in this way, a successful $400 million settlement in favor of Lexar would equate to all-around $four.eighty three for every share in supplemental funds so as to add to the current $0.fifty four in absolutely free hard cash following debt that Lexar has. What this means is Micron would spend less than $five a share for Lexars assets, and that is minimal.
There is also speculation that SanDisk is severely thinking about having a run at acquiring Lexar. This would sound right considering the fact that SanDisk would solidify its leadership place.
Additionally, SanDisk has a detailed working romance with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to acquire Lexar.
Keep tune. A Distinctive shareholder meeting to evaluate the takeover bid is moved to June sixteen. In my view, the $10 bid undervalues Lexar. Issue is will a white https://www.washingtonpost.com/newssearch/?query=소액결제 knight floor?