On Friday, flash media maker Lexar Media (LEXR) been given a higher revised takeover bid from Micron Technologies (MU). The revised bid locations the all-inventory Trade give at close to $ten a share, up marginally from the initial bid.
But important shareholders including billionaire investor Carl Icahn along with hedge resources and portfolio managers have deemed the Original bid being inappropriate. Elliott Associates thinks the Original bid “appreciably undervalues Lexar,” and feels Lexar is worthy of between $1.5 billion and $two.4 billion. The estimate is well over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way also lower and needs to be turned down by shareholders. Micron 소액결제정책 would like to shell out all around one.10x income for Lexar when the marketplace chief SanDisk (SNDK) is buying and selling at four.35x gross sales. Lexar also includes a $four hundred million patent infringement lawsuit from Toshiba that it experienced previously won but is currently issue to an appeal by Toshiba.
Think about it in this way, a successful $four hundred million settlement in favor of Lexar would equate to all around $4.83 for each share in more money to include to The present $0.54 in free of charge cash soon after personal debt that Lexar has. This means Micron would spend fewer than $5 a share https://www.washingtonpost.com/newssearch/?query=소액결제 for Lexars belongings, that is low.
There's also speculation that SanDisk is very seriously serious about using a run at acquiring Lexar. This might make sense due to the fact SanDisk would solidify its leadership placement.
Furthermore, SanDisk has an in depth Performing relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Stay tune. A Unique shareholder Assembly to assessment the takeover bid has been moved to June 16. In my watch, the $10 bid undervalues Lexar. Query is will a white knight surface?