On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technological innovation (MU). The revised bid spots the all-stock exchange supply at close to $10 a share, up marginally within the initial bid.
But important shareholders which includes billionaire investor Carl Icahn as well as hedge money and portfolio supervisors have considered the Preliminary bid to generally https://www.washingtonpost.com/newssearch/?query=소액결제 be inappropriate. Elliott Associates thinks the initial bid “substantially undervalues Lexar,” and feels Lexar is well worth among $1.5 billion and $2.4 billion. The estimate is perfectly higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way as well small and ought to be turned down by shareholders. Micron really wants to fork out all-around 1.10x profits for Lexar when the market leader SanDisk (SNDK) is investing at 4.35x profits. Lexar also contains a $400 million patent infringement lawsuit versus Toshiba that it had previously won but is currently subject matter to an attraction by Toshiba.
Think it over this way, a successful $four hundred million settlement in favor of Lexar would equate to around $4.83 per share in supplemental hard cash to include to The present $0.54 in free dollars just after credit card debt that Lexar has. This means Micron would spend fewer than $five a share for Lexars assets, that's small.
There may be also speculation that SanDisk is seriously considering taking a operate at attaining Lexar. This would seem sensible because SanDisk would solidify its leadership posture.
Additionally, SanDisk has an in depth working partnership with Toshiba, which could see SanDisk fall or decrease the 정보이용료 settlement if it managed to acquire Lexar.
Remain tune. A Distinctive shareholder Conference to review the takeover bid has become moved to June 16. In my view, the $10 bid undervalues Lexar. Issue is will a white knight area?