On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Technological innovation (MU). The revised bid locations the all-stock exchange give at about $ten a share, https://en.search.wordpress.com/?src=organic&q=소액결제 up marginally from your initial bid.
But key shareholders such as billionaire Trader Carl Icahn together with hedge resources and portfolio supervisors have deemed the Preliminary bid to become inappropriate. Elliott Associates believes the Original bid “appreciably undervalues Lexar,” and feels Lexar is well worth between $1.5 http://xn--7y2br0oc8jnkbb1f.kr/ billion and $two.four billion. The estimate is properly over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way too low and should be turned down by shareholders. Micron hopes to pay back around one.10x revenue for Lexar when the industry chief SanDisk (SNDK) is buying and selling at 4.35x revenue. Lexar also provides a $four hundred million patent infringement lawsuit from Toshiba that it experienced previously received but is currently topic to an attractiveness by Toshiba.
Consider it by doing this, a successful $400 million settlement in favor of Lexar would equate to all-around $4.eighty three per share in extra cash to incorporate to the current $0.54 in free of charge dollars soon after financial debt that Lexar has. What this means is Micron would pay below $5 a share for Lexars assets, which happens to be very low.
You can find also speculation that SanDisk is significantly pondering having a operate at acquiring Lexar. This could sound right considering the fact that SanDisk would solidify its Management place.
Also, SanDisk has a detailed Doing the job romance with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Keep tune. A Particular shareholder Conference to review the takeover bid is moved to June 16. In my perspective, the $10 bid undervalues Lexar. Problem is will a white knight area?