On Friday, flash media maker Lexar Media (LEXR) obtained the next revised takeover bid from Micron Know-how (MU). The revised bid locations the all-inventory Trade supply at all around $10 a share, up marginally in the initial bid.
But significant shareholders together with billionaire investor Carl Icahn along with hedge cash and portfolio managers have deemed the First bid being inappropriate. Elliott Associates thinks the First bid “noticeably undervalues Lexar,” and feels Lexar is value involving $one.5 billion and $2.four billion. The estimate is very well earlier mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also low and should be rejected by shareholders. Micron would like to pay out about one.10x revenue for Lexar even though the industry leader SanDisk (SNDK) is trading at four.35x sales. Lexar also features a $four hundred million patent infringement lawsuit from Toshiba that it experienced previously won but is currently topic to an charm by Toshiba.
Think it over by doing this, An effective $four hundred million settlement in 정보이용료 favor of Lexar would equate to all over $4.eighty three for each share in added https://en.search.wordpress.com/?src=organic&q=소액결제 dollars so as to add to The existing $0.fifty four in no cost hard cash immediately after personal debt that Lexar has. This means Micron would pay out lower than $5 a share for Lexars property, that is low.
There may be also speculation that SanDisk is seriously pondering taking a operate at getting Lexar. This could seem sensible due to the fact SanDisk would solidify its Management place.
Additionally, SanDisk has a detailed Functioning relationship with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to acquire Lexar.
Keep tune. A Particular shareholder Conference to review the takeover bid has become moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Query is will a white knight surface?