On Friday, flash media maker Lexar Media (LEXR) received the next revised takeover bid from Micron Technological know-how (MU). The revised bid places the all-stock exchange offer you at all over $10 a share, http://www.thefreedictionary.com/소액결제 up marginally from the Original bid.
But main shareholders together with billionaire investor Carl Icahn in addition to hedge funds and portfolio professionals have deemed the initial bid to become inappropriate. Elliott Associates believes the Preliminary bid “drastically undervalues Lexar,” and feels Lexar is truly worth in between $one.five billion and $two.four billion. The estimate is nicely above the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too reduced and ought to be turned down by shareholders. 소액결제현금화 Micron wishes to pay out around 1.10x gross sales for Lexar when the market leader SanDisk (SNDK) is investing at four.35x income. Lexar also has a $four hundred million patent infringement lawsuit versus Toshiba that it had Earlier won but has become matter to an attractiveness by Toshiba.
Think about it this way, A prosperous $400 million settlement in favor of Lexar would equate to close to $four.eighty three per share in supplemental dollars to include to The existing $0.fifty four in no cost dollars just after debt that Lexar has. This suggests Micron would spend lower than $5 a share for Lexars property, which is minimal.
There's also speculation that SanDisk is very seriously serious about having a operate at getting Lexar. This could make sense considering the fact that SanDisk would solidify its Management place.
In addition, SanDisk has an in depth Doing the job romance with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to acquire Lexar.
Stay tune. A special shareholder meeting to evaluate the takeover bid is moved to June sixteen. In my view, the $10 bid undervalues Lexar. Issue is will a white knight surface?