On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Know-how (MU). The revised bid spots the all-stock Trade provide at all over $ten a share, up marginally from the First bid.
But main shareholders together with billionaire investor Carl Icahn in addition to hedge money and portfolio administrators have considered the First bid for being inappropriate. Elliott Associates thinks the initial bid “noticeably undervalues Lexar,” and feels Lexar is worth between $one.5 billion and $2.four billion. The estimate is very well above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way much too reduced and needs to be turned down by shareholders. Micron wishes to pay around one.10x product sales for Lexar when the marketplace leader SanDisk (SNDK) is investing at 4.35x sales. Lexar also has a $400 million patent infringement lawsuit against Toshiba that it had Beforehand gained but is now issue to an enchantment by Toshiba.
Give it some thought using 신용카드현금화 this method, An effective $four hundred million settlement in favor of Lexar would http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 equate to all over $four.eighty three per share in supplemental money to include to The existing $0.54 in cost-free hard cash soon after personal debt that Lexar has. This means Micron would pay fewer than $five a share for Lexars property, that is small.
There exists also speculation that SanDisk is seriously considering having a run at acquiring Lexar. This may sound right because SanDisk would solidify its leadership place.
What's more, SanDisk has an in depth Functioning romance with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to accumulate Lexar.
Remain tune. A Specific shareholder Assembly to assessment the takeover bid has long been moved to June sixteen. In my view, the $ten bid undervalues Lexar. Question is will a white knight surface area?