On Friday, flash media maker Lexar Media (LEXR) obtained an increased revised takeover bid from Micron Technological innovation (MU). The revised bid areas the all-stock exchange supply at all over $10 a share, up marginally in the Original bid.
But key shareholders which include billionaire investor Carl Icahn along with hedge money and portfolio supervisors have deemed the First bid for being inappropriate. Elliott Associates thinks the Preliminary bid “drastically undervalues Lexar,” and http://www.bbc.co.uk/search?q=소액결제 feels Lexar is really worth between $one.five billion and $two.4 billion. The estimate is properly over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too low and needs to be turned down by shareholders. Micron wants to shell out about one.10x profits for Lexar when the market leader SanDisk (SNDK) is investing at 4.35x profits. Lexar also has a $four hundred million patent infringement lawsuit against Toshiba that it had Beforehand gained but is currently issue to an enchantment by Toshiba.
Think it over by doing this, An effective $400 million settlement in favor of Lexar would equate to all around $four.eighty three for every share in supplemental income to include to The existing $0.54 in free of charge income after personal debt that Lexar has. This means Micron would shell out less 정보이용료 than $5 a share for Lexars property, that's very low.
There is also speculation that SanDisk is significantly thinking about taking a run at obtaining Lexar. This is able to sound right since SanDisk would solidify its leadership placement.
Also, SanDisk has a close Doing the job marriage with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to accumulate Lexar.
Remain tune. A Particular shareholder Assembly to review the takeover bid has long been moved to June 16. In my watch, the $10 bid undervalues Lexar. Question is will a white knight surface area?