On Friday, flash media maker Lexar Media (LEXR) gained a greater revised takeover bid from Micron Technology (MU). The revised bid spots the all-inventory exchange offer at around $10 a share, up marginally within the Original bid.
But big shareholders like billionaire investor Carl Icahn in conjunction with hedge cash and portfolio administrators have considered the First bid for being inappropriate. Elliott Associates thinks the First bid “noticeably undervalues Lexar,” and feels Lexar is worth amongst $one.five billion and $2.4 billion. The estimate is well above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also very low and really should be turned down by shareholders. Micron desires to pay all around one.10x sales for Lexar whilst the market chief SanDisk (SNDK) is investing at four.35x income. Lexar also provides a $400 million patent infringement lawsuit towards Toshiba that it experienced previously won but has become topic to an appeal by Toshiba.
Give it some thought this way, A prosperous $400 million settlement in favor of Lexar would equate https://en.wikipedia.org/wiki/?search=소액결제 to about $4.eighty three per share in more income to add to The existing $0.54 in absolutely free income 신용카드현금화 immediately after personal debt that Lexar has. This suggests Micron would pay out under $five a share for Lexars belongings, that is low.
You can find also speculation that SanDisk is seriously thinking about having a run at attaining Lexar. This would seem sensible given that SanDisk would solidify its Management placement.
Moreover, SanDisk has a close Functioning romantic relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Stay tune. A Unique shareholder Assembly to critique the takeover bid continues to be moved to June 16. In my watch, the $ten bid undervalues Lexar. Question is will a white knight floor?