On Friday, flash media maker Lexar Media (LEXR) been given an increased revised takeover bid from Micron Technological innovation (MU). The revised bid places the all-stock Trade offer you at all-around $10 a share, up marginally from your First bid.
But important shareholders including billionaire investor Carl Icahn coupled with hedge cash and portfolio managers have considered the initial bid to generally be inappropriate. Elliott Associates thinks the Preliminary bid “appreciably undervalues Lexar,” and feels Lexar is value in between $one.five billion and $two.four billion. The estimate is very well higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way also minimal and ought to be rejected by shareholders. Micron wants to pay around 1.10x income for Lexar when the marketplace leader SanDisk (SNDK) is investing at four.35x revenue. Lexar also provides a $four hundred million patent infringement lawsuit in opposition to Toshiba that it had previously gained but is now matter to an charm by Toshiba.
Think it https://www.washingtonpost.com/newssearch/?query=소액결제 over this way, A prosperous $four hundred million settlement in favor of Lexar would equate to around $four.83 for each share in added funds to incorporate to The present $0.fifty four in absolutely free income after credit card debt that Lexar has. This suggests Micron would spend a lot less than $five a share for Lexars property, that's minimal.
There is certainly also speculation that SanDisk is very seriously thinking about taking a operate at buying Lexar. This may make sense considering the fact that 정보이용료 SanDisk would solidify its leadership position.
Moreover, SanDisk has a close Doing work relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Continue to be tune. A Unique shareholder Assembly to overview the takeover bid has been moved to June 16. In my perspective, the $10 bid undervalues Lexar. Concern is will a white knight floor?