On Friday, flash media maker Lexar Media (LEXR) obtained a higher revised takeover bid from Micron Technology (MU). The revised bid areas the all-inventory Trade present at all-around $10 a share, up marginally through the Preliminary bid.
But important shareholders like billionaire investor Carl Icahn coupled with hedge cash and portfolio managers have considered the Original bid for being inappropriate. https://en.search.wordpress.com/?src=organic&q=소액결제 Elliott Associates thinks the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is well worth in between $1.five billion and $two.four billion. The estimate is nicely higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way also reduced and really should be turned down by shareholders. Micron would like to pay back all over one.10x more info gross sales for Lexar when the industry leader SanDisk (SNDK) is trading at 4.35x profits. Lexar also contains a $four hundred million patent infringement lawsuit from Toshiba that it experienced Formerly gained but has become subject to an enchantment by Toshiba.
Think about it in this manner, a successful $four hundred million settlement in favor of Lexar would equate to around $four.83 for every share in added money to include to The present $0.fifty four in free hard cash following personal debt that Lexar has. This implies Micron would shell out fewer than $5 a share for Lexars property, that is small.
There is certainly also speculation that SanDisk is severely serious about using a operate at buying Lexar. This is able to seem sensible since SanDisk would solidify its Management situation.
Moreover, SanDisk has a detailed Performing connection with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to acquire Lexar.
Continue to be tune. A Distinctive shareholder Conference to assessment the takeover bid is moved to June sixteen. In my watch, the $10 bid undervalues Lexar. Issue is will a white knight surface?