On Friday, flash media maker Lexar Media (LEXR) been given a better revised takeover bid from Micron Engineering (MU). The revised bid areas the all-stock Trade offer at all around $10 a share, up marginally through the Original bid.
But big shareholders which includes billionaire investor Carl Icahn in conjunction with hedge money and portfolio professionals have deemed the Original bid being inappropriate. Elliott Associates thinks the initial bid “appreciably undervalues Lexar,” and feels Lexar is value among $1.5 billion and $two.4 billion. The estimate is well higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way way too 신용카드현금화 minimal and must be turned down by shareholders. Micron would like to shell out around 1.10x gross sales for Lexar although the industry chief SanDisk (SNDK) is investing at four.35x profits. Lexar also provides a $400 million patent infringement lawsuit against Toshiba that it experienced previously received but is now subject matter to an attractiveness by Toshiba.
Consider it in this manner, a successful $four hundred million settlement in favor of Lexar would equate to all-around $4.83 per share in more money to add to The existing $0.fifty four in totally free funds immediately after personal debt that Lexar has. This implies Micron would pay back lower than $5 a share for Lexars assets, which happens to be very low.
There is certainly also speculation that SanDisk is critically considering using a run at attaining Lexar. This may sound right due to the fact SanDisk would solidify its Management posture.
Moreover, SanDisk has an in depth Operating romantic relationship with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to amass Lexar.
Continue to be tune. A Specific shareholder Assembly to evaluate the takeover bid has long been moved to June 16. In https://en.search.wordpress.com/?src=organic&q=소액결제 my check out, the $10 bid undervalues Lexar. Question is will a white knight floor?