On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Engineering (MU). The revised bid spots the all-inventory Trade offer at all over $10 a share, up marginally with the Original bid.
But key shareholders like billionaire Trader Carl Icahn coupled with hedge money and portfolio professionals http://www.thefreedictionary.com/소액결제 have considered the Original bid being inappropriate. Elliott Associates believes the First bid “appreciably undervalues Lexar,” and feels Lexar 신용카드현금화 is worth concerning $1.5 billion and $2.four billion. The estimate is properly over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too minimal and should be turned down by shareholders. Micron really wants to pay about one.10x revenue for Lexar whilst the industry leader SanDisk (SNDK) is trading at 4.35x income. Lexar also features a $400 million patent infringement lawsuit towards Toshiba that it experienced Formerly gained but is now subject to an enchantment by Toshiba.
Give it some thought by doing this, An effective $four hundred million settlement in favor of Lexar would equate to all over $four.eighty three for each share in extra income to include to the current $0.54 in totally free hard cash following debt that Lexar has. This means Micron would pay out fewer than $five a share for Lexars property, and that is lower.
There exists also speculation that SanDisk is very seriously thinking about using a operate at acquiring Lexar. This may seem sensible given that SanDisk would solidify its Management position.
Furthermore, SanDisk has an in depth Doing work relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to acquire Lexar.
Stay tune. A Exclusive shareholder Conference to assessment the takeover bid has been moved to June sixteen. In my check out, the $ten bid undervalues Lexar. Question is will a white knight floor?