On Friday, flash media maker Lexar Media (LEXR) been given a better revised takeover bid from Micron Technologies (MU). The revised bid spots the all-inventory Trade give at all over $10 a share, up marginally from your First bid.
But important shareholders including billionaire investor Carl Icahn coupled with hedge cash and portfolio supervisors have deemed the First 정보이용료 bid to generally be inappropriate. Elliott Associates thinks the Preliminary bid “noticeably undervalues Lexar,” and feels Lexar is worth concerning $1.5 billion and $two.four billion. The estimate is well higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way way too very low and really should be turned down by shareholders. Micron hopes to shell out all-around one.10x product sales for Lexar when the market chief SanDisk (SNDK) is buying and selling at 4.35x income. Lexar also has a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced Formerly won but is now topic to an attractiveness by Toshiba.
Consider it this way, An effective $400 million settlement in favor of Lexar would equate to close to $4.eighty three per share in further funds to incorporate to The present $0.54 in free funds after credit card debt that Lexar has. This means Micron would shell out fewer than $5 a share for Lexars assets, that's lower.
You can find also speculation that SanDisk is critically serious about using a run at buying Lexar. This is able to sound right given that SanDisk would solidify its leadership https://www.washingtonpost.com/newssearch/?query=소액결제 place.
Also, SanDisk has a detailed Functioning relationship with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to obtain Lexar.
Remain tune. A Distinctive shareholder meeting to review the takeover bid has become moved to June 16. In my perspective, the $ten bid undervalues Lexar. Concern is will a white knight surface?