On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Technologies (MU). The revised bid places the all-stock Trade provide at close to $10 a share, up marginally through the First bid.
But big shareholders which include billionaire investor Carl Icahn along with hedge funds and portfolio managers have considered the initial bid to be inappropriate. Elliott Associates thinks the initial bid “noticeably undervalues Lexar,” and feels Lexar is truly worth amongst $one.5 billion and $two.four billion. The estimate is nicely higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way also lower and should be turned down by shareholders. Micron wants to pay close to one.10x revenue for Lexar while the industry leader SanDisk (SNDK) is buying and selling at four.35x income. Lexar also provides a $400 million patent infringement lawsuit versus Toshiba that it had Earlier won but is now matter to an attraction by Toshiba.
Consider it by doing this, An effective $400 신용카드현금화 million settlement in favor of Lexar would equate to around $4.eighty three for every share in more dollars to incorporate to the current $0.fifty four in totally free cash after debt that Lexar has. This implies Micron would fork out a lot less than $5 a share for Lexars property, which can be small.
There is certainly also speculation that SanDisk is severely contemplating having a operate at obtaining Lexar. This might make sense because SanDisk would solidify its leadership position. https://en.search.wordpress.com/?src=organic&q=소액결제
Also, SanDisk has an in depth Operating marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Keep tune. A Exclusive shareholder Assembly to overview the takeover bid has been moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Concern is will a white knight area?