On Friday, flash media maker Lexar Media (LEXR) received the next revised takeover bid from Micron Know-how (MU). The revised bid areas the all-inventory exchange offer you at all around $10 a share, up marginally from your Preliminary bid.
But important shareholders which include billionaire Trader Carl Icahn along with hedge money and portfolio administrators have considered the initial bid to become inappropriate. Elliott Associates thinks the First bid “substantially undervalues Lexar,” and feels Lexar is worthy of between $1.five billion and $2.four billion. The estimate is very well higher than 소액결제정책 the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way way too low and ought to be turned down by shareholders. Micron wants to pay back all-around one.10x income for Lexar when the marketplace leader SanDisk (SNDK) is trading at 4.35x sales. Lexar also provides a $400 million patent infringement lawsuit in opposition to Toshiba that it https://en.search.wordpress.com/?src=organic&q=소액결제 experienced Beforehand gained but is currently topic to an charm by Toshiba.
Consider it this way, An effective $four hundred million settlement in favor of Lexar would equate to all over $4.eighty three for each share in added cash to incorporate to The present $0.54 in free of charge money just after debt that Lexar has. This implies Micron would shell out fewer than $5 a share for Lexars assets, which can be small.
There's also speculation that SanDisk is very seriously contemplating taking a run at attaining Lexar. This is able to seem sensible considering the fact that SanDisk would solidify its leadership position.
Moreover, SanDisk has an in depth Operating marriage with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Keep tune. A special shareholder Conference to assessment the takeover bid is moved to June sixteen. In my see, the $ten bid undervalues Lexar. Dilemma is will a white knight surface?