On Friday, flash media maker Lexar Media (LEXR) obtained an increased revised takeover bid from Micron Technological know-how (MU). The revised bid locations the all-inventory exchange give at all-around $ten a share, up marginally from your First bid.
But important shareholders such as billionaire Trader Carl Icahn as well as hedge resources and portfolio professionals have considered the First bid to be inappropriate. Elliott Associates thinks the Preliminary bid “noticeably undervalues Lexar,” and feels Lexar is truly worth among $one.five billion and $two.four billion. The estimate is perfectly previously mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way too reduced and has to be turned down by shareholders. Micron hopes to pay back all over one.10x revenue for Lexar when the market leader SanDisk (SNDK) is buying and selling at 4.35x product sales. Lexar also has a $400 million patent infringement lawsuit versus Toshiba that http://www.bbc.co.uk/search?q=소액결제 it had previously gained but has become subject matter to an enchantment by Toshiba.
Think it over this way, A prosperous $400 million settlement in favor of Lexar would equate to about $four.83 per share in additional income so as to 정보이용료 add to the current $0.54 in free hard cash soon after debt that Lexar has. What this means is Micron would fork out a lot less than $5 a share for Lexars belongings, that is low.
There is certainly also speculation that SanDisk is severely contemplating having a operate at obtaining Lexar. This is able to sound right considering that SanDisk would solidify its Management situation.
Also, SanDisk has a close Performing romance with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to acquire Lexar.
Stay tune. A Unique shareholder Assembly to assessment the takeover bid has long been moved to June 16. In my perspective, the $ten bid undervalues Lexar. Question is will a white knight area?