On Friday, flash media maker Lexar Media (LEXR) gained the next revised takeover bid from Micron Technological innovation (MU). The revised bid sites the all-stock Trade supply at close to $ten a share, up marginally with the initial bid.
But important shareholders including billionaire Trader Carl Icahn in conjunction with hedge cash and portfolio managers have considered the initial bid to be inappropriate. Elliott Associates thinks the Original bid “appreciably undervalues Lexar,” and feels Lexar is worth involving $one.five billion and $two.four billion. The estimate is effectively over the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way also lower and needs to be rejected by shareholders. Micron wishes to pay back all around one.10x profits for Lexar though the industry leader SanDisk (SNDK) is buying and selling at four.35x revenue. Lexar also has a $400 million patent infringement lawsuit versus Toshiba that it had Beforehand gained but is now subject to an enchantment by Toshiba.
Think about it using this 정보이용료 method, a successful $four hundred million settlement in favor of Lexar would equate to around $four.eighty three for each share in further hard cash to include to The present $0.fifty four in free of charge cash following debt that Lexar has. This implies Micron would pay out below $five a share for Lexars property, that's reduced.
There may be also speculation that SanDisk is significantly considering having a run at getting Lexar. This may make sense given that SanDisk would solidify its leadership position.
What's more, SanDisk has a detailed working romantic relationship with Toshiba, which could see SanDisk fall or reduce the settlement http://www.bbc.co.uk/search?q=소액결제 if it managed to accumulate Lexar.
Keep tune. A Specific shareholder Conference to critique the takeover bid is moved to June sixteen. In my watch, the $ten bid undervalues Lexar. Concern is will a white knight surface?