On Friday, flash media https://www.washingtonpost.com/newssearch/?query=소액결제 maker Lexar Media (LEXR) received a better revised takeover bid from Micron Know-how (MU). The revised bid locations the all-stock exchange offer you at all-around $10 a share, up marginally through the Preliminary bid.
But major shareholders together with billionaire Trader Carl Icahn coupled with hedge cash and portfolio professionals have considered the Preliminary bid to be inappropriate. Elliott Associates thinks the Original bid “drastically undervalues Lexar,” and feels Lexar is worth concerning $one.five billion and $two.4 billion. The estimate is nicely previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way as well minimal and really should be turned down by shareholders. Micron would like to pay all-around one.10x sales for Lexar although the market leader SanDisk (SNDK) is trading at 4.35x sales. Lexar also provides a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced Beforehand gained but is currently subject to an appeal by Toshiba.
Think it over in this manner, An effective $400 million settlement in favor of Lexar would equate to all around $four.eighty three per share in additional income so as to add to The present $0.fifty four in no cost hard cash following personal debt that Lexar 신용카드현금화 has. What this means is Micron would pay back below $five a share for Lexars assets, which happens to be lower.
You can find also speculation that SanDisk is very seriously serious about having a run at getting Lexar. This might sound right because SanDisk would solidify its Management position.
What's more, SanDisk has an in depth Performing relationship with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to obtain Lexar.
Remain tune. A Exclusive shareholder meeting to overview the takeover bid has been moved to June sixteen. In my look at, the $ten bid undervalues Lexar. Question is will a white knight area?