On Friday, flash media maker Lexar Media (LEXR) been given an increased revised takeover bid from Micron Engineering (MU). The revised bid spots the all-inventory Trade offer you at all-around $10 a share, up marginally with the First bid.
But key shareholders including billionaire investor Carl Icahn as well as hedge money and portfolio managers have deemed the Original bid being inappropriate. Elliott Associates believes the Original bid “noticeably undervalues Lexar,” and feels Lexar is worthy of involving $one.5 billion and $2.4 billion. The estimate is nicely higher than the revised takeover bid 신용카드현금화 of about $827 million.
I have to concur and say the revised takeover bid is way much too very low and ought to be turned down by shareholders. Micron wishes to pay back all around one.10x sales for Lexar even though the marketplace leader SanDisk (SNDK) is trading at four.35x income. Lexar also has a $four hundred million patent infringement lawsuit versus Toshiba that it had Earlier received but has become matter to an appeal https://www.washingtonpost.com/newssearch/?query=소액결제 by Toshiba.
Think it over using this method, A prosperous $400 million settlement in favor of Lexar would equate to all over $four.eighty three for every share in more cash to include to The present $0.54 in no cost hard cash following credit card debt that Lexar has. This means Micron would shell out below $5 a share for Lexars belongings, that's low.
You can find also speculation that SanDisk is very seriously contemplating using a run at obtaining Lexar. This may make sense since SanDisk would solidify its Management situation.
Also, SanDisk has a detailed Functioning marriage with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Remain tune. A special shareholder Conference to evaluation the takeover bid has become moved to June sixteen. In my perspective, the $ten bid undervalues Lexar. Question is will a white knight floor?