On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technology (MU). The revised bid locations the all-inventory Trade provide at all-around $10 a share, up marginally from the First bid.
But significant shareholders together with billionaire investor Carl Icahn in conjunction with hedge money and portfolio supervisors have deemed the initial bid being inappropriate. Elliott Associates believes the initial bid “appreciably undervalues Lexar,” and feels Lexar is really worth in between $one.5 billion and $2.4 billion. The estimate is properly previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too minimal and ought to be rejected by shareholders. Micron wishes to pay all-around one.10x income for Lexar whilst the industry chief SanDisk (SNDK) is buying and selling at 4.35x profits. Lexar also features a $four hundred million patent infringement lawsuit against Toshiba that it had Formerly received but is now subject to an attraction by Toshiba.
Think about it in this manner, A prosperous $four hundred million settlement in favor of Lexar would equate to about $4.eighty three for each share in added income to incorporate to The present $0.fifty four in free of charge dollars right after financial debt that Lexar has. What https://en.search.wordpress.com/?src=organic&q=소액결제 this means is Micron would spend lower than $5 a share for Lexars belongings, which happens to be very low.
There's also speculation that SanDisk is critically thinking of taking a run at acquiring Lexar. This could seem sensible because SanDisk would solidify its leadership position.
Also, SanDisk has a close Doing the job 정보이용료 connection with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to accumulate Lexar.
Remain tune. A Distinctive shareholder meeting to review the takeover bid has become moved to June 16. In my see, the $ten bid undervalues Lexar. Question is will a white knight surface area?