On Friday, flash media maker Lexar Media (LEXR) received a higher revised takeover bid from Micron Know-how (MU). The revised bid sites the all-stock Trade provide at close to $ten a share, up marginally from the First bid.
But key shareholders which includes billionaire investor Carl Icahn in addition to hedge money and portfolio supervisors have deemed the initial bid for being inappropriate. Elliott Associates believes the initial bid “noticeably undervalues Lexar,” and feels Lexar is worthy of amongst $1.five billion and $2.four billion. The estimate is nicely higher than the revised takeover bid 소액결제현금화 of about $827 million.
I must concur and say the revised takeover bid is way as well reduced and ought to be rejected by shareholders. Micron wants to pay back all over 1.10x sales for Lexar though the industry chief SanDisk (SNDK) is investing at four.35x revenue. Lexar also contains a $400 million patent infringement lawsuit against Toshiba that it experienced Formerly received but is currently matter to an enchantment by Toshiba.
Give it some thought https://en.search.wordpress.com/?src=organic&q=소액결제 this fashion, a successful $400 million settlement in favor of Lexar would equate to around $four.eighty three for each share in additional income to add to the current $0.fifty four in totally free money immediately after credit card debt that Lexar has. This suggests Micron would spend less than $5 a share for Lexars assets, which is low.
You can find also speculation that SanDisk is very seriously considering getting a run at getting Lexar. This might seem sensible due to the fact SanDisk would solidify its Management posture.
Moreover, SanDisk has an in depth Performing relationship with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to accumulate Lexar.
Remain tune. A Unique shareholder meeting to evaluation the takeover bid is moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Problem is will a white knight area?