On Friday, flash media maker Lexar Media (LEXR) been given a greater revised takeover bid from Micron Engineering (MU). The revised bid locations the all-inventory exchange provide at close to $10 a share, up marginally in the Preliminary bid.
But major shareholders such as billionaire Trader Carl Icahn coupled with hedge cash and portfolio professionals have considered the initial bid to become inappropriate. Elliott Associates thinks the First bid “substantially undervalues Lexar,” and feels Lexar is value concerning $1.five billion and $2.4 billion. The estimate is perfectly previously mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too small and must be turned down by shareholders. Micron really wants http://www.bbc.co.uk/search?q=소액결제 to spend all-around 1.10x income for Lexar while the market chief SanDisk (SNDK) is buying and selling at 4.35x profits. Lexar also has a $four hundred million patent infringement lawsuit towards Toshiba that it had Beforehand won but has become matter to an attraction by Toshiba.
Think it over in this manner, a successful $four hundred million settlement in favor of Lexar would equate to all around $4.83 for each share in added money to incorporate to the current $0.fifty four in no cost cash after personal debt that Lexar has. What this means is Micron would fork out 정보이용료 under $5 a share for Lexars belongings, that is lower.
There's also speculation that SanDisk is very seriously thinking of having a operate at buying Lexar. This would make sense given that SanDisk would solidify its leadership position.
Also, SanDisk has a close Doing the job romance with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to amass Lexar.
Stay tune. A Unique shareholder Conference to assessment the takeover bid is moved to June sixteen. In my see, the $10 bid undervalues Lexar. Question is will a white knight surface area?