On Friday, flash media maker Lexar Media (LEXR) obtained an increased revised takeover bid from Micron Know-how (MU). The revised bid places the all-inventory Trade offer at all-around $10 a share, up marginally from your initial bid.
But important shareholders which include billionaire investor Carl Icahn together with hedge resources and portfolio professionals have considered the Original bid to get inappropriate. Elliott Associates thinks the First bid “substantially undervalues Lexar,” and feels Lexar is value concerning $one.five billion and $two.4 billion. The estimate is nicely earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way too minimal and has to be turned down by shareholders. Micron wants to fork out around 1.10x income for Lexar although the market leader SanDisk (SNDK) is trading at 4.35x income. Lexar also contains a $400 million patent infringement lawsuit from Toshiba that it experienced previously received but is currently subject matter to an attractiveness by Toshiba.
Think about it this way, a successful $four hundred million settlement 정보이용료 in favor of Lexar would equate to all around $four.eighty three per share in added income so as to add to the current $0.fifty four in free of charge dollars soon after credit card debt that Lexar has. What this means is Micron would pay lower than $5 a share for Lexars assets, that is very low.
There's also speculation that SanDisk is seriously considering getting a run at buying Lexar. This would seem sensible http://edition.cnn.com/search/?text=소액결제 due to the fact SanDisk would solidify its Management situation.
Moreover, SanDisk has an in depth Operating romantic relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Continue to be tune. A Distinctive shareholder meeting to evaluation the takeover bid has been moved to June sixteen. In my perspective, the $10 bid undervalues Lexar. Issue is will a white knight area?