On Friday, flash media maker Lexar Media (LEXR) gained the next revised takeover bid from Micron Technologies (MU). The revised bid destinations the all-stock Trade offer you at all over $10 a share, up marginally within the initial https://www.washingtonpost.com/newssearch/?query=소액결제 bid.
But big shareholders which include billionaire Trader Carl Icahn together with hedge cash and portfolio supervisors have considered the Original bid to get inappropriate. Elliott Associates thinks the initial bid “noticeably undervalues Lexar,” and feels Lexar is worth between $1.5 billion and $two.four billion. The estimate is perfectly above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way as well very low and really should be rejected by shareholders. Micron really wants to spend all over 1.10x sales for Lexar while the market chief SanDisk (SNDK) is trading at 4.35x profits. Lexar also features a $four hundred million patent infringement lawsuit versus Toshiba that it had Earlier gained but is now subject matter to an charm by Toshiba.
Think about it this way, A prosperous $four hundred million settlement in favor of Lexar would equate to all around $four.83 for each share in more income 정보이용료 to include to the current $0.fifty four in free cash following debt that Lexar has. This implies Micron would pay out a lot less than $5 a share for Lexars assets, which happens to be small.
There may be also speculation that SanDisk is very seriously thinking about having a run at buying Lexar. This could seem sensible since SanDisk would solidify its leadership position.
In addition, SanDisk has an in depth Performing marriage with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to accumulate Lexar.
Continue to be tune. A Exclusive shareholder Assembly to overview the takeover bid is moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Issue is will a white knight surface?