On Friday, flash media maker Lexar Media (LEXR) http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 acquired an increased revised takeover bid from Micron Know-how (MU). The revised bid places the all-inventory Trade provide at close to $10 a share, up marginally from your Preliminary bid.
But big shareholders such as billionaire Trader Carl Icahn together with hedge money and portfolio professionals have considered the initial bid to generally be inappropriate. Elliott Associates thinks the Original bid “significantly undervalues Lexar,” and feels Lexar is well worth amongst $one.5 billion and $two.4 billion. The estimate is well above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way way too minimal and ought to be rejected by shareholders. Micron would like to fork out all around 1.10x income for Lexar whilst the marketplace leader SanDisk (SNDK) is trading at four.35x income. Lexar also features a $400 million patent infringement lawsuit from Toshiba that it experienced Beforehand received but has become topic to an attractiveness by Toshiba.
Consider it in this way, An effective $400 소액결제정책 million settlement in favor of Lexar would equate to close to $4.83 per share in extra funds to add to The existing $0.fifty four in free funds soon after debt that Lexar has. What this means is Micron would pay out under $5 a share for Lexars belongings, that is lower.
You can find also speculation that SanDisk is very seriously serious about getting a run at obtaining Lexar. This may sound right since SanDisk would solidify its leadership situation.
In addition, SanDisk has a close Functioning marriage with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to acquire Lexar.
Continue to be tune. A Particular shareholder Conference to critique the takeover bid continues to be moved to June sixteen. In my see, the $10 bid undervalues Lexar. Concern is will a white knight surface area?