On Friday, flash media maker Lexar Media (LEXR) gained an increased revised takeover bid from Micron Technological know-how (MU). The revised bid sites the all-stock exchange supply at close to $ten a share, up marginally from the First bid.
But big shareholders such as billionaire Trader Carl Icahn in conjunction with hedge cash and portfolio supervisors have considered the initial bid being inappropriate. Elliott Associates believes the initial bid “significantly undervalues Lexar,” and feels 신용카드현금화 Lexar is worth concerning $1.5 billion and $two.four billion. The estimate is properly above the revised takeover bid of about $827 million.
I need to concur and say the revised http://www.bbc.co.uk/search?q=소액결제 takeover bid is way way too lower and really should be turned down by shareholders. Micron really wants to pay out all over one.10x revenue for Lexar even though the marketplace leader SanDisk (SNDK) is investing at four.35x revenue. Lexar also incorporates a $400 million patent infringement lawsuit from Toshiba that it experienced Beforehand received but has become subject to an charm by Toshiba.
Think it over this fashion, a successful $four hundred million settlement in favor of Lexar would equate to about $4.eighty three per share in supplemental hard cash to add to The existing $0.fifty four in no cost hard cash after personal debt that Lexar has. What this means is Micron would pay out fewer than $five a share for Lexars property, which is minimal.
There's also speculation that SanDisk is significantly contemplating taking a operate at obtaining Lexar. This would seem sensible given that SanDisk would solidify its Management position.
Also, SanDisk has an in depth Performing connection with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to acquire Lexar.
Remain tune. A special shareholder meeting to overview the takeover bid has become moved to June 16. In my watch, the $ten bid undervalues Lexar. Question is will a white knight surface area?