On Friday, flash media maker Lexar Media (LEXR) acquired the next revised takeover bid from Micron Know-how (MU). The revised bid places the all-inventory exchange present at close to $10 a share, up marginally with the Preliminary bid. https://www.washingtonpost.com/newssearch/?query=소액결제
But important shareholders including billionaire investor Carl Icahn together with hedge resources and portfolio professionals have considered the First bid to become inappropriate. Elliott Associates believes the initial bid “appreciably undervalues Lexar,” and feels Lexar is worthy of between $1.five billion and $2.four billion. The estimate is effectively earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too minimal and really should be rejected by shareholders. Micron desires to pay all around one.10x product sales for Lexar although the marketplace leader SanDisk (SNDK) is trading at four.35x income. Lexar also incorporates a $400 million patent infringement lawsuit in opposition to Toshiba that it had Beforehand gained but is currently subject to 소액결제정책 an attraction by Toshiba.
Think about it this way, a successful $four hundred million settlement in favor of Lexar would equate to about $4.eighty three for every share in supplemental dollars to add to The existing $0.54 in free funds following financial debt that Lexar has. This suggests Micron would fork out below $five a share for Lexars property, which can be reduced.
There exists also speculation that SanDisk is critically considering using a run at buying Lexar. This would make sense given that SanDisk would solidify its Management position.
Furthermore, SanDisk has a close Doing the job romance with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to obtain Lexar.
Remain tune. A Specific shareholder Assembly to critique the takeover bid continues to be moved to June 16. In my perspective, the $10 bid undervalues Lexar. Problem is will a white knight area?