On Friday, flash media maker Lexar Media (LEXR) acquired the next revised takeover bid from Micron Technological know-how (MU). The revised bid places the all-stock Trade give at around $10 a share, up marginally in the initial bid.
But key shareholders including billionaire Trader Carl Icahn coupled with hedge cash and portfolio managers have considered the First bid to become inappropriate. Elliott Associates believes the First bid “appreciably undervalues Lexar,” and feels Lexar is well worth concerning $one.five billion and $two.4 billion. The estimate is nicely above the revised takeover 소액결제 bid of about $827 million.
I must concur and say the revised takeover bid is way far too lower and needs to be rejected by shareholders. Micron really wants to fork out around one.10x product sales for Lexar although the industry leader SanDisk (SNDK) is trading at four.35x sales. Lexar also contains a $400 million patent infringement lawsuit towards Toshiba that it experienced Beforehand received but is currently subject to an enchantment by Toshiba.
Think about it in this http://www.bbc.co.uk/search?q=소액결제 way, a successful $four hundred million settlement in favor of Lexar would equate to all over $4.83 for every share in extra cash to include to The present $0.fifty four in cost-free cash right after credit card debt that Lexar has. What this means is Micron would fork out below $five a share for Lexars belongings, that is reduced.
There is certainly also speculation that SanDisk is very seriously considering getting a run at acquiring Lexar. This would sound right considering that SanDisk would solidify its leadership position.
Furthermore, SanDisk has an in depth Doing work partnership with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to acquire Lexar.
Continue to be tune. A special shareholder Conference to critique the takeover bid has been moved to June sixteen. In my see, the $ten bid undervalues Lexar. Query is will a white knight surface?