On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Technology (MU). The revised bid locations the all-inventory exchange give at all around $ten a share, up marginally within the initial bid.
But important shareholders which include billionaire Trader Carl Icahn in addition to hedge resources and portfolio administrators have considered the Original bid to be inappropriate. Elliott Associates thinks the initial bid “considerably undervalues Lexar,” and feels Lexar is value between $one.5 billion and $2.4 billion. The estimate is perfectly over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also very low and needs to be rejected by shareholders. Micron would like to pay back all over one.10x gross sales for Lexar while the industry chief SanDisk (SNDK) is buying and selling at four.35x revenue. Lexar also features a $four 신용카드현금화 hundred million patent infringement lawsuit against Toshiba that it had Formerly won but is now issue to an charm by Toshiba.
Give it some thought in this way, a successful $400 million settlement in favor of Lexar https://www.washingtonpost.com/newssearch/?query=소액결제 would equate to all-around $4.83 for every share in added dollars to incorporate to the current $0.fifty four in totally free cash after debt that Lexar has. This implies Micron would pay under $5 a share for Lexars property, that is low.
There's also speculation that SanDisk is very seriously thinking of using a operate at attaining Lexar. This would make sense due to the fact SanDisk would solidify its Management posture.
Furthermore, SanDisk has a detailed Doing work romance with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to obtain Lexar.
Continue to be tune. A Specific shareholder Assembly to evaluation the takeover bid has actually been moved to June sixteen. In my perspective, the $10 bid undervalues Lexar. Query is will a white knight area?