On Friday, flash media maker Lexar Media (LEXR) received a better revised takeover bid from Micron Engineering (MU). The revised bid locations the all-inventory exchange give at all around $ten a share, up marginally through the Original bid.
But significant shareholders which include billionaire investor Carl Icahn as well as hedge cash and portfolio professionals have considered the First bid to become inappropriate. Elliott Associates thinks the Original bid “considerably undervalues Lexar,” and feels Lexar is truly worth concerning $one.5 billion and $2.4 billion. The estimate is effectively previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too low and has to be rejected by shareholders. Micron wishes to pay out about one.10x sales for Lexar although the industry leader SanDisk (SNDK) is investing at 4.35x product sales. 신용카드현금화 Lexar also features a $four hundred million patent infringement lawsuit against Toshiba that it experienced Earlier won but is currently subject matter to an attraction by Toshiba.
Think about it in this way, a successful $400 million settlement in favor of Lexar would equate to all-around $four.83 for each share in additional money to incorporate to The present $0.fifty four in free income after financial debt that Lexar has. What this means is Micron would pay under $five a share for Lexars assets, that is very low.
There is also speculation that SanDisk is very seriously contemplating taking a operate at buying Lexar. This may sound right given that SanDisk would solidify its leadership position.
What's more, SanDisk has a close Performing marriage with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to acquire Lexar.
Stay tune. A Particular shareholder Conference to critique the takeover bid has become moved to June sixteen. In my watch, the http://www.bbc.co.uk/search?q=소액결제 $ten bid undervalues Lexar. Query is will a white knight surface area?