On Friday, flash media maker Lexar Media (LEXR) gained a better revised takeover bid from Micron Technologies (MU). The revised bid locations the all-stock Trade offer you at close to $10 a share, up marginally through the First bid.
But important shareholders such as billionaire Trader Carl Icahn in addition to hedge funds and portfolio administrators have deemed the initial bid to generally be inappropriate. Elliott Associates thinks the First bid “drastically undervalues Lexar,” and feels Lexar is truly worth in between 소액결제현금화 $one.five billion and $two.four billion. The estimate is nicely higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way too reduced and should be turned down by shareholders. Micron desires to pay out about 1.10x income for Lexar when the industry chief SanDisk (SNDK) is buying and selling at 4.35x product sales. Lexar also contains a $400 million patent infringement lawsuit towards Toshiba that it had Formerly won but is now issue to an appeal by Toshiba.
Think it over by doing this, A prosperous $400 million settlement in favor of Lexar would equate to all over $four.83 for every share in more dollars so as to add to The existing $0.fifty four in no cost hard cash soon after personal debt that Lexar has. What this means is Micron would spend fewer than $five a share for Lexars property, which can be low.
There's also speculation that SanDisk is very seriously thinking of getting a run at obtaining Lexar. This may seem sensible because SanDisk would solidify its Management placement.
Moreover, SanDisk has an in depth Doing the job romance with Toshiba, which could see SanDisk drop or decrease the settlement if it https://en.wikipedia.org/wiki/?search=소액결제 managed to amass Lexar.
Stay tune. A Exclusive shareholder Assembly to overview the takeover bid has been moved to June 16. In my look at, the $10 bid undervalues Lexar. Problem is will a white knight surface area?