On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Engineering (MU). The revised bid places the all-inventory Trade supply at all-around $ten a share, up marginally with the First bid.
But big shareholders which includes billionaire investor Carl Icahn as well as hedge cash and portfolio administrators have considered the Preliminary bid to get inappropriate. Elliott Associates thinks the initial bid “appreciably undervalues Lexar,” and feels Lexar is value https://en.wikipedia.org/wiki/?search=소액결제 involving $1.five billion and $2.four billion. The estimate is well higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also reduced and needs to be rejected by shareholders. Micron desires to pay back close to one.10x revenue for Lexar though the marketplace leader SanDisk (SNDK) is trading at four.35x sales. Lexar also incorporates a $400 million patent infringement lawsuit towards Toshiba that it had previously won but has become subject matter to an attraction by Toshiba.
Consider it this fashion, An effective $400 million settlement in favor of Lexar would equate to about $4.83 for each share in supplemental cash to add to the current $0.54 in free income after credit card debt that Lexar has. This suggests Micron would pay out a lot less than $five a share for Lexars property, which can be small.
There's also speculation that SanDisk is seriously pondering using a operate at buying Lexar. 정보이용료 This could seem sensible considering that SanDisk would solidify its Management situation.
Furthermore, SanDisk has an in depth Doing the job partnership with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Remain tune. A special shareholder Assembly to evaluate the takeover bid continues to be moved to June 16. In my perspective, the $10 bid undervalues Lexar. Problem is will a white knight surface area?