On Friday, flash media maker Lexar Media (LEXR) been given a higher revised takeover bid from Micron Technology (MU). The revised bid destinations the all-stock Trade provide at close to $10 a share, up marginally within the First bid.
But major shareholders including billionaire Trader Carl Icahn together with hedge funds and portfolio professionals have considered the Preliminary bid to get inappropriate. Elliott Associates thinks the First bid “appreciably undervalues Lexar,” and feels Lexar is worthy of concerning $1.5 billion and $two.4 billion. The estimate 정보이용료 is very well previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way much too reduced and really should be rejected by shareholders. Micron wishes to fork out all around one.10x sales for Lexar although the industry leader SanDisk (SNDK) is buying and selling at four.35x gross sales. Lexar also incorporates a $four hundred million patent infringement lawsuit from Toshiba that it had Formerly gained but has become subject matter to an attraction by Toshiba.
Give it some thought by doing this, A prosperous $four hundred million settlement in favor of Lexar would equate to close to $4.83 for each share in further funds to add to The existing $0.54 in no cost dollars soon after financial debt http://edition.cnn.com/search/?text=소액결제 that Lexar has. What this means is Micron would pay out lower than $five a share for Lexars property, which is small.
There exists also speculation that SanDisk is very seriously thinking about getting a operate at acquiring Lexar. This might make sense given that SanDisk would solidify its leadership position.
Moreover, SanDisk has a detailed Performing partnership with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to accumulate Lexar.
Continue to be tune. A special shareholder Conference to review the takeover bid is moved to June sixteen. In my view, the $ten bid undervalues Lexar. Question is will a white knight area?