On Friday, flash media maker Lexar Media (LEXR) acquired a greater revised takeover bid from Micron Engineering (MU). The revised bid locations the all-stock Trade supply at around $10 a share, up marginally from the Preliminary bid.
But main shareholders like billionaire investor Carl Icahn coupled with hedge funds and portfolio supervisors have deemed the Preliminary bid to be inappropriate. Elliott Associates thinks the First bid “considerably undervalues Lexar,” and feels Lexar is truly worth involving $one.5 billion and $2.4 billion. The estimate is properly earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too very low and should be turned down by shareholders. Micron would like to shell out around 1.10x profits for Lexar while the industry chief SanDisk (SNDK) is 소액결제현금화 buying and selling at 4.35x gross sales. Lexar also features a $400 million patent infringement lawsuit against Toshiba that it experienced Beforehand gained but is now topic to an enchantment by Toshiba.
Think about it in this way, An effective $four hundred million settlement in favor of Lexar would equate to all around $4.83 for each share in further hard cash to include to The existing $0.fifty four in no cost money after financial debt that Lexar has. This implies Micron would spend a lot less than $five a share for Lexars property, which can be reduced.
There may be also speculation that SanDisk is very seriously thinking about having a operate at attaining Lexar. This is able to sound right considering that SanDisk would solidify its Management posture.
Furthermore, SanDisk has a detailed Doing work romantic relationship with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to accumulate Lexar.
Stay tune. A Specific shareholder Conference to evaluation the takeover bid is moved to June 16. In http://www.bbc.co.uk/search?q=소액결제 my perspective, the $ten bid undervalues Lexar. Concern is will a white knight surface?