On Friday, flash media maker Lexar Media (LEXR) received an increased revised takeover bid from Micron Technological innovation (MU). The revised bid destinations the all-stock Trade offer at all-around $10 a share, up marginally from the initial bid.
But main shareholders which includes billionaire investor Carl Icahn in addition to hedge cash and portfolio administrators have deemed the initial bid to become inappropriate. Elliott Associates thinks the initial bid “significantly undervalues Lexar,” and feels Lexar is value involving $1.5 billion and $two.4 billion. The estimate is very well over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also reduced and needs to be rejected 정보이용료 by shareholders. Micron desires to fork out about one.10x income for Lexar even though the marketplace chief SanDisk (SNDK) is trading at 4.35x gross sales. Lexar also includes a $400 million patent infringement lawsuit versus Toshiba that it experienced previously received but is now matter to an enchantment by Toshiba.
Consider it this fashion, a successful $400 million settlement in favor of Lexar would equate to all around $4.eighty three for each share in more dollars to add to the current $0.54 in totally free money following https://www.washingtonpost.com/newssearch/?query=소액결제 credit card debt that Lexar has. This implies Micron would shell out less than $five a share for Lexars property, which can be minimal.
There is also speculation that SanDisk is very seriously pondering using a run at acquiring Lexar. This may sound right due to the fact SanDisk would solidify its leadership placement.
Furthermore, SanDisk has an in depth Operating partnership with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to obtain Lexar.
Continue to be tune. A Particular shareholder meeting to overview the takeover bid has been moved to June sixteen. In my look at, the $ten bid undervalues Lexar. Concern is will a white knight surface area?