On Friday, flash media maker Lexar Media (LEXR) gained a greater revised takeover bid from Micron Technology (MU). The revised bid spots the all-stock exchange supply at https://en.search.wordpress.com/?src=organic&q=소액결제 all over $ten a share, up marginally through the First bid.
But big shareholders which include billionaire Trader Carl Icahn in conjunction with hedge cash and portfolio professionals have considered the Preliminary bid for being inappropriate. Elliott Associates believes the First bid “noticeably undervalues Lexar,” and feels Lexar is worth among $1.five billion and $two.four billion. The estimate is perfectly earlier mentioned the revised takeover bid of about $827 million.
I have 정보이용료 to concur and say the revised takeover bid is way too low and has to be turned down by shareholders. Micron wants to spend close to one.10x revenue for Lexar though the market chief SanDisk (SNDK) is trading at 4.35x gross sales. Lexar also features a $400 million patent infringement lawsuit from Toshiba that it experienced Formerly gained but has become topic to an appeal by Toshiba.
Give it some thought this way, a successful $four hundred million settlement in favor of Lexar would equate to all around $four.83 per share in supplemental hard cash to include to The present $0.54 in no cost income just after financial debt that Lexar has. This suggests Micron would pay under $5 a share for Lexars assets, which happens to be reduced.
There is certainly also speculation that SanDisk is significantly thinking of having a run at acquiring Lexar. This would sound right considering the fact that SanDisk would solidify its leadership place.
Moreover, SanDisk has a close Functioning relationship with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to accumulate Lexar.
Continue to be tune. A special shareholder Assembly to assessment the takeover bid has been moved to June 16. In my see, the $ten bid undervalues Lexar. Question is will a white knight floor?