On Friday, flash media maker Lexar Media (LEXR) been given an increased revised takeover bid from Micron Engineering (MU). The revised bid locations the all-stock exchange provide at around $ten a share, up marginally from your Original bid.
But big shareholders together with billionaire investor Carl Icahn as well as hedge cash and portfolio supervisors have deemed the initial bid being inappropriate. Elliott https://en.search.wordpress.com/?src=organic&q=소액결제 Associates thinks the Preliminary bid “considerably undervalues Lexar,” and feels Lexar is truly worth among $one.5 billion and $2.4 billion. The estimate is properly earlier mentioned the revised takeover bid of about $827 정보이용료 million.
I have to concur and say the revised takeover bid is way also reduced and should be rejected by shareholders. Micron would like to pay back about one.10x gross sales for Lexar even though the market leader SanDisk (SNDK) is buying and selling at 4.35x sales. Lexar also incorporates a $400 million patent infringement lawsuit from Toshiba that it had Beforehand won but has become topic to an charm by Toshiba.
Consider it in this way, A prosperous $400 million settlement in favor of Lexar would equate to around $4.eighty three per share in more income to incorporate to The existing $0.54 in totally free hard cash soon after personal debt that Lexar has. This implies Micron would pay back under $5 a share for Lexars assets, that's minimal.
There may be also speculation that SanDisk is severely thinking of using a run at attaining Lexar. This could sound right considering the fact that SanDisk would solidify its leadership posture.
Furthermore, SanDisk has a close Doing the job romance with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Remain tune. A special shareholder Conference to assessment the takeover bid has been moved to June 16. In my perspective, the $ten bid undervalues Lexar. Dilemma is will a white knight floor?