On Friday, flash media maker Lexar Media (LEXR) obtained a greater revised takeover bid from Micron Technologies (MU). The revised bid sites the all-inventory exchange supply at close to $10 a share, up marginally from the First bid.
But key shareholders which includes billionaire investor Carl Icahn in addition to hedge funds 신용카드현금화 and portfolio administrators have considered the Original bid for being inappropriate. Elliott Associates thinks the initial bid “significantly undervalues Lexar,” and feels Lexar is truly worth between $1.five billion and $two.4 billion. The estimate is well above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way way too reduced and ought to be rejected by shareholders. Micron really wants to pay close to one.10x profits for Lexar although the industry chief SanDisk (SNDK) is investing at 4.35x product sales. Lexar also includes a $four hundred million patent infringement lawsuit from Toshiba that it had previously gained but has become subject to an appeal by Toshiba.
Think about it by doing this, A prosperous $four hundred million settlement in favor of Lexar would equate to close to $four.eighty three for every share in supplemental income so as to add to the current $0.fifty four in free funds just after credit card debt that Lexar has. This means Micron would shell out under $5 a share for Lexars property, which happens to be lower.
There exists also speculation that SanDisk is significantly considering having a operate at attaining Lexar. This may sound right since SanDisk would solidify its Management position.
Furthermore, SanDisk has a close Doing the job romantic relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it http://edition.cnn.com/search/?text=소액결제 managed to amass Lexar.
Keep tune. A Specific shareholder Assembly to evaluation the takeover bid has long been moved to June 16. In my view, the $10 bid undervalues Lexar. Problem is will a white knight surface area?