On Friday, flash media maker Lexar Media (LEXR) been given a greater revised takeover bid from Micron Technologies (MU). The revised bid spots the all-inventory Trade present at all around $ten a share, up marginally with the First bid.
But key shareholders such as billionaire Trader Carl Icahn in conjunction with hedge resources and portfolio supervisors have considered the Preliminary bid to generally be inappropriate. Elliott Associates thinks the Original bid “substantially undervalues Lexar,” and feels Lexar is worth involving $one.5 billion and $two.four billion. The estimate is perfectly earlier mentioned the revised takeover bid of about $827 million. 소액결제정책
I must concur and say the revised takeover bid is way far too minimal and needs to be turned https://www.washingtonpost.com/newssearch/?query=소액결제 down by shareholders. Micron wishes to fork out close to 1.10x product sales for Lexar whilst the marketplace chief SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also provides a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced Earlier gained but is currently topic to an appeal by Toshiba.
Think it over this way, A prosperous $400 million settlement in favor of Lexar would equate to about $4.eighty three for each share in additional funds so as to add to The existing $0.fifty four in no cost funds immediately after financial debt that Lexar has. This means Micron would shell out below $5 a share for Lexars belongings, and that is very low.
There is also speculation that SanDisk is severely thinking about using a run at acquiring Lexar. This may make sense since SanDisk would solidify its Management position.
Furthermore, SanDisk has a close Operating marriage with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Keep tune. A Exclusive shareholder meeting to evaluate the takeover bid has been moved to June sixteen. In my perspective, the $10 bid undervalues Lexar. Query is will a white knight surface?