On Friday, flash media maker Lexar Media (LEXR) gained the next revised takeover bid from Micron Technological know-how (MU). The revised bid places the all-stock Trade offer at around $ten a share, up marginally within the Original bid.
But major shareholders such as billionaire investor Carl Icahn in addition to hedge cash and portfolio professionals have deemed the Preliminary bid to generally be inappropriate. Elliott Associates believes the First bid “significantly undervalues Lexar,” and feels Lexar is truly worth concerning $one.5 billion and $two.4 billion. The estimate is nicely above the revised takeover bid of about $827 million.
I must concur and say the https://www.washingtonpost.com/newssearch/?query=소액결제 revised takeover bid is way much too minimal and 신용카드현금화 has to be rejected by shareholders. Micron wishes to spend around 1.10x gross sales for Lexar when the industry chief SanDisk (SNDK) is investing at 4.35x income. Lexar also incorporates a $400 million patent infringement lawsuit towards Toshiba that it had Earlier won but is currently topic to an appeal by Toshiba.
Think it over this fashion, a successful $four hundred million settlement in favor of Lexar would equate to all around $4.eighty three for each share in supplemental funds to add to The existing $0.fifty four in totally free money after debt that Lexar has. This means Micron would pay a lot less than $five a share for Lexars property, which is lower.
You can find also speculation that SanDisk is significantly pondering taking a run at obtaining Lexar. This would sound right since SanDisk would solidify its leadership place.
In addition, SanDisk has a close Operating romantic relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Continue to be tune. A special shareholder meeting to critique the takeover bid has long been moved to June sixteen. In my view, the $10 bid undervalues Lexar. Concern is will a white knight area?