On Friday, flash media maker Lexar Media (LEXR) gained the next revised takeover bid from Micron Engineering (MU). The revised bid sites the all-inventory exchange give at close to $10 a share, up marginally with the Original bid.
But big shareholders which includes billionaire investor Carl Icahn along with hedge money and portfolio administrators have deemed the Preliminary bid to get inappropriate. Elliott Associates thinks the Original bid “significantly undervalues Lexar,” and feels Lexar is really worth between $1.5 billion and $2.4 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 as well minimal and has to be rejected by shareholders. Micron wants to pay out about 1.10x profits for Lexar although the marketplace leader SanDisk (SNDK) is trading at four.35x product sales. Lexar also incorporates a $400 million patent infringement lawsuit in opposition to Toshiba that it had Formerly gained but is currently subject to an attractiveness by Toshiba.
Think it over by doing this, A prosperous $400 million settlement in favor of Lexar would equate to all around $four.eighty three for every share in extra cash to incorporate to The existing $0.fifty four in absolutely free cash right https://en.search.wordpress.com/?src=organic&q=소액결제 after debt that Lexar has. This means Micron would fork out under $5 a share for Lexars belongings, which is lower.
There is also speculation that SanDisk is very seriously considering having a run at attaining Lexar. This could seem sensible because SanDisk would solidify its Management situation.
What's more, SanDisk has an in depth working romance with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Continue to be tune. A Unique shareholder meeting to overview the takeover bid has long been moved to June 16. In my check out, the $ten bid undervalues Lexar. Issue is will a white knight surface 신용카드현금화 area?