On Friday, flash media maker Lexar Media (LEXR) obtained a better revised takeover bid from Micron Engineering (MU). The revised bid spots the all-stock exchange present at all over $ten a share, up marginally within the Original bid.
But key shareholders like billionaire investor Carl Icahn along with hedge money and portfolio supervisors have considered the initial bid being inappropriate. Elliott Associates believes the Preliminary bid “appreciably undervalues Lexar,” and feels Lexar is well worth among https://en.search.wordpress.com/?src=organic&q=소액결제 $1.five billion and $two.4 billion. The estimate is nicely earlier mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way as well low and really should be rejected by shareholders. Micron hopes to spend all-around one.10x revenue for Lexar even though the marketplace chief SanDisk (SNDK) is buying and selling at four.35x product sales. Lexar also provides a $400 million patent infringement lawsuit from Toshiba that it experienced Earlier won but has become issue to an enchantment by Toshiba.
Consider it this fashion, a successful $four hundred million settlement in favor of Lexar would equate to about $four.83 per share in extra income to incorporate to The present $0.54 in cost-free funds soon after credit card debt that Lexar has. What this means is Micron would pay out a lot less than $five a share for Lexars assets, which is lower.
You can find also speculation that SanDisk is seriously thinking of getting a operate at attaining Lexar. This could sound right given that SanDisk would solidify its Management situation.
What's more, SanDisk has a close Operating connection with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to accumulate Lexar.
Stay tune. A special shareholder Assembly 정보이용료 to review the takeover bid is moved to June sixteen. In my see, the $10 bid undervalues Lexar. Dilemma is will a white knight floor?