On Friday, flash media maker Lexar Media (LEXR) obtained an increased revised takeover bid from Micron Know-how (MU). The revised bid locations the all-inventory Trade offer you at around $ten a share, up marginally from your First bid.
But significant shareholders like billionaire Trader Carl Icahn together with hedge cash and portfolio supervisors have deemed the First bid to generally be inappropriate. Elliott Associates thinks the Original bid “drastically undervalues Lexar,” and feels Lexar is worth concerning $1.5 billion and $2.4 billion. The estimate is nicely above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way way too low and has to be turned down by shareholders. Micron hopes to spend about one.10x revenue for Lexar although the marketplace chief SanDisk (SNDK) is investing at four.35x income. Lexar also incorporates a $400 million patent infringement lawsuit versus Toshiba that it experienced Beforehand won but is currently topic to an attractiveness by Toshiba.
Think 정보이용료 about it using this method, An effective $400 million settlement in favor of Lexar would equate to close to $four.eighty three for each share in extra cash to include to The present $0.54 in cost-free dollars right after personal debt that Lexar has. This means Micron would fork out less than $5 a share for Lexars belongings, which can be reduced.
You can find also speculation that SanDisk is significantly pondering getting a run at obtaining Lexar. This could make sense due to the fact SanDisk would solidify its Management placement.
In addition, SanDisk has a detailed Doing the job relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Keep http://edition.cnn.com/search/?text=소액결제 tune. A Specific shareholder meeting to review the takeover bid has been moved to June sixteen. In my see, the $10 bid undervalues Lexar. Dilemma is will a white knight surface?