On Friday, flash media maker Lexar Media (LEXR) received the next revised takeover bid from Micron Know-how (MU). The revised bid places the all-stock exchange offer at close to $10 a share, up marginally within the Original bid.
But important shareholders which includes billionaire investor Carl Icahn coupled with hedge money and portfolio professionals have considered the First bid http://www.thefreedictionary.com/소액결제 to get inappropriate. Elliott Associates thinks the First bid “significantly undervalues Lexar,” and feels Lexar is really worth among $1.five billion and $2.four billion. The estimate 신용카드현금화 is very well earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way much too reduced and needs to be turned down by shareholders. Micron desires to shell out about 1.10x income for Lexar even though the market chief SanDisk (SNDK) is buying and selling at four.35x sales. Lexar also contains a $400 million patent infringement lawsuit towards Toshiba that it experienced Formerly won but has become subject to an attractiveness by Toshiba.
Consider it using this method, A prosperous $four hundred million settlement in favor of Lexar would equate to about $four.eighty three for each share in extra funds to add to the current $0.54 in totally free cash immediately after credit card debt that Lexar has. What this means is Micron would pay back lower than $5 a share for Lexars assets, and that is lower.
There is also speculation that SanDisk is seriously considering getting a operate at obtaining Lexar. This is able to seem sensible since SanDisk would solidify its leadership posture.
Also, SanDisk has a detailed Functioning romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to accumulate Lexar.
Keep tune. A Distinctive shareholder Conference to evaluate the takeover bid has actually been moved to June sixteen. In my view, the $10 bid undervalues Lexar. Dilemma is will a white knight floor?