On Friday, flash media maker Lexar Media (LEXR) gained a better revised takeover bid from Micron Technologies (MU). The revised bid places the all-stock Trade supply at all-around $ten a share, up marginally from the Preliminary bid.
But key shareholders together with billionaire investor Carl Icahn as well as hedge funds and portfolio administrators have deemed the First bid to be inappropriate. Elliott Associates thinks the Preliminary bid “drastically undervalues Lexar,” and feels Lexar is well worth among $one.five billion and $2.four billion. The estimate is properly above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too small and must be http://www.thefreedictionary.com/소액결제 rejected by shareholders. Micron really wants to pay out all-around 1.10x gross sales for Lexar when the marketplace leader SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also includes a $400 million patent infringement lawsuit versus Toshiba that it experienced Formerly received but is currently topic to an charm by Toshiba.
Think it over this fashion, A prosperous $four hundred million settlement in favor of Lexar would equate to all around $4.eighty three per share in supplemental hard cash to include to the current $0.54 in free of charge funds right after financial debt that Lexar 정보이용료 has. This means Micron would pay less than $five a share for Lexars assets, and that is very low.
You can find also speculation that SanDisk is significantly thinking of taking a operate at attaining Lexar. This may seem sensible considering that SanDisk would solidify its Management placement.
Also, SanDisk has a detailed Functioning marriage with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to acquire Lexar.
Keep tune. A Exclusive shareholder meeting to overview the takeover bid continues to be moved to June 16. In my check out, the $10 bid undervalues Lexar. Dilemma is will a white knight area?