On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Technological know-how (MU). The revised bid locations the all-stock exchange provide at all-around $ten a share, up marginally from the Original bid.
But main shareholders which includes billionaire investor Carl Icahn along with hedge resources and portfolio professionals have considered the Original bid to generally be inappropriate. Elliott Associates believes the Preliminary bid “noticeably undervalues Lexar,” and feels Lexar is well worth involving $1.5 billion and $two.4 billion. The estimate is perfectly higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far 소액결제정책 too lower and ought to be rejected by shareholders. Micron really wants to pay all-around 1.10x gross sales for Lexar though the marketplace leader SanDisk (SNDK) is trading at four.35x product sales. Lexar also includes a $four hundred million patent infringement lawsuit against Toshiba that it http://query.nytimes.com/search/sitesearch/?action=click&contentCollection®ion=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/소액결제 had Formerly received but has become issue to an attractiveness by Toshiba.
Give it some thought using this method, An effective $four hundred million settlement in favor of Lexar would equate to around $4.83 for every share in additional money to include to The existing $0.54 in no cost income after personal debt that Lexar has. This suggests Micron would pay back lower than $five a share for Lexars belongings, that is small.
You can find also speculation that SanDisk is severely serious about using a operate at getting Lexar. This may seem sensible considering that SanDisk would solidify its Management situation.
What's more, SanDisk has an in depth Operating marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to obtain Lexar.
Continue to be tune. A Distinctive shareholder meeting to overview the takeover bid has been moved to June sixteen. In my watch, the $ten bid undervalues Lexar. Concern is will a white knight surface?