On Friday, flash media maker Lexar Media (LEXR) obtained a better revised takeover bid from Micron Technology (MU). The revised bid destinations the all-inventory Trade offer you at about $ten a share, up marginally from your initial bid.
But key shareholders like billionaire Trader Carl Icahn along with hedge funds and portfolio managers have deemed the First bid for being inappropriate. Elliott Associates believes the Preliminary bid “drastically undervalues Lexar,” and feels Lexar is worth amongst $1.5 billion and $two.4 billion. The estimate is very well above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also small and needs to be rejected by shareholders. Micron wishes to spend all over 1.10x income for Lexar although the marketplace leader SanDisk (SNDK) is investing at four.35x sales. http://edition.cnn.com/search/?text=소액결제 Lexar also incorporates a $400 million patent infringement lawsuit against Toshiba that it had previously received but has become subject matter to an enchantment by Toshiba.
Think about it this fashion, a successful $four hundred million settlement in favor of Lexar would equate to around $four.83 for every share in extra dollars to incorporate to The present $0.fifty four in no cost funds immediately after financial debt that Lexar has. This implies Micron would fork out less than $five a share for Lexars assets, which can be small.
There's also speculation that 정보이용료 SanDisk is very seriously thinking of having a operate at acquiring Lexar. This might sound right since SanDisk would solidify its leadership place.
Additionally, SanDisk has a close Operating partnership with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Stay tune. A Distinctive shareholder Assembly to assessment the takeover bid has actually been moved to June 16. In my check out, the $10 bid undervalues Lexar. Problem is will a white knight floor?