On Friday, flash media maker Lexar Media (LEXR) acquired the next revised takeover bid from Micron Technologies (MU). The revised bid destinations the all-inventory exchange supply at all over $ten a share, up marginally through the First bid.
But important shareholders which includes billionaire investor Carl Icahn together with hedge resources and portfolio administrators have deemed the First bid to get inappropriate. Elliott Associates believes the First bid “considerably undervalues Lexar,” and feels Lexar is really worth in between $one.five billion and $two.4 billion. The estimate is very well above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too minimal and needs to be rejected by shareholders. Micron really wants to shell out all-around one.10x revenue for Lexar while the industry leader SanDisk (SNDK) is investing at four.35x sales. Lexar also features a $four hundred million patent infringement lawsuit from Toshiba that it had Earlier won but has become matter to an enchantment by Toshiba.
Consider it this way, An effective $four hundred million settlement in favor of Lexar would equate to all-around $four.83 정보이용료 for every share in added money to add to The existing $0.54 in free money right after financial debt that Lexar has. This suggests Micron would pay out under $five a share for Lexars belongings, that's very low.
There may be also speculation that SanDisk is significantly thinking about getting a run at getting Lexar. This could make http://edition.cnn.com/search/?text=소액결제 sense considering the fact that SanDisk would solidify its leadership situation.
Additionally, SanDisk has a close Doing the job marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Keep tune. A Particular shareholder Assembly to evaluation the takeover bid continues to be moved to June 16. In my check out, the $ten bid undervalues Lexar. Query is will a white knight surface?