On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Know-how (MU). The revised bid locations the all-inventory exchange give at all around $10 a share, up marginally within the First bid.
But major shareholders like billionaire investor Carl Icahn in addition to hedge funds and portfolio professionals have deemed the Preliminary bid to be inappropriate. Elliott Associates believes the initial bid “appreciably undervalues Lexar,” and feels Lexar is value among $one.five billion and $two.four billion. The estimate is well over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way also reduced and needs to be turned down by shareholders. Micron hopes to fork out about 1.10x profits for Lexar though the marketplace chief SanDisk (SNDK) is buying and selling at 4.35x income. Lexar also has a $400 million patent infringement lawsuit towards Toshiba that it had Earlier received but is http://www.thefreedictionary.com/소액결제 now matter to an enchantment by Toshiba.
Consider it by doing this, A prosperous $four hundred million settlement in favor of Lexar would equate to all over $4.eighty three per share in more hard cash to include to the current $0.54 in cost-free cash soon after financial debt that Lexar has. This means Micron would pay out below $five a share for Lexars assets, that is minimal.
There's also speculation that SanDisk is significantly thinking of getting a operate at buying Lexar. This is able to make sense due to the fact SanDisk would solidify its leadership place.
Additionally, SanDisk has a detailed Operating connection with Toshiba, which could see SanDisk fall or reduce the 정보이용료 settlement if it managed to accumulate Lexar.
Continue to be tune. A Specific shareholder Assembly to evaluation the takeover bid has long been moved to June sixteen. In my view, the $ten bid undervalues Lexar. Query is will a white knight floor?