On Friday, flash media maker Lexar Media (LEXR) acquired a greater revised takeover bid from Micron Know-how (MU). The revised bid spots the all-inventory Trade supply at all around $10 a share, up marginally from your Original bid.
But major shareholders such as billionaire investor Carl Icahn coupled with hedge funds and portfolio supervisors have considered the Original bid being inappropriate. Elliott Associates thinks the Preliminary bid “drastically undervalues 정보이용료 Lexar,” and feels Lexar is worth amongst $one.five billion and $2.four billion. The estimate is properly over the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too low and must be turned down by shareholders. Micron desires to pay about one.10x income for Lexar while the market leader SanDisk (SNDK) is trading at four.35x income. Lexar also provides a $400 million patent infringement lawsuit versus Toshiba that it had Formerly received but has become matter to an attraction by Toshiba.
Consider it in this manner, A prosperous $400 million settlement in favor of Lexar would equate to all around $4.eighty three for every share http://edition.cnn.com/search/?text=소액결제 in additional cash to incorporate to the current $0.fifty four in totally free hard cash immediately after financial debt that Lexar has. This means Micron would pay under $5 a share for Lexars property, which happens to be low.
There's also speculation that SanDisk is seriously considering having a run at attaining Lexar. This is able to seem sensible considering that SanDisk would solidify its leadership posture.
Additionally, SanDisk has a close Operating relationship with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to accumulate Lexar.
Continue to be tune. A special shareholder meeting to evaluation the takeover bid has been moved to June sixteen. In my perspective, the $ten bid undervalues Lexar. Question is will a white knight floor?