On Friday, flash media maker Lexar Media (LEXR) acquired the next revised takeover bid from Micron Engineering (MU). The revised bid spots the all-inventory exchange provide at close to $ten a share, up marginally within the initial bid.
But main shareholders together with billionaire Trader Carl Icahn in addition to hedge funds and portfolio managers have deemed the Preliminary bid to become inappropriate. Elliott Associates thinks the Original bid “significantly undervalues Lexar,” and feels Lexar is really worth concerning $1.5 billion and $two.4 billion. The estimate is nicely previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way much too reduced and really should be rejected by shareholders. Micron desires to https://www.washingtonpost.com/newssearch/?query=소액결제 spend all-around one.10x gross sales for Lexar while the market leader SanDisk (SNDK) is trading at four.35x product sales. Lexar also features a $400 million patent infringement lawsuit against Toshiba that it had Earlier gained but is now topic to an attractiveness by Toshiba.
Think it over this way, An effective $four hundred million settlement in favor of Lexar would equate to around $four.83 per share in further income to incorporate 신용카드현금화 to The existing $0.fifty four in free hard cash just after debt that Lexar has. What this means is Micron would spend a lot less than $five a share for Lexars belongings, that is reduced.
There may be also speculation that SanDisk is very seriously considering using a operate at attaining Lexar. This could seem sensible considering the fact that SanDisk would solidify its leadership placement.
Furthermore, SanDisk has a detailed Operating 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 meeting to critique the takeover bid is moved to June 16. In my see, the $10 bid undervalues Lexar. Concern is will a white knight area?