On Friday, flash media maker Lexar Media (LEXR) been given a higher revised takeover bid from Micron Technology (MU). The revised bid sites the all-stock exchange give at all around $ten a share, up marginally from the initial bid.
But big shareholders such as billionaire Trader Carl Icahn in conjunction with hedge funds and portfolio managers have considered the First bid to be inappropriate. Elliott Associates believes the Original bid “significantly undervalues Lexar,” and feels Lexar is truly worth among $1.five billion and $two.4 정보이용료 billion. The estimate is very well earlier mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too small and needs to be turned down by shareholders. Micron desires to shell out all over 1.10x income for Lexar although the industry leader SanDisk (SNDK) is buying and selling at 4.35x gross sales. Lexar also contains a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced Formerly received but is now matter to an enchantment by Toshiba.
Think about it this way, An effective $four hundred million settlement in favor of Lexar would equate to close to $4.83 per share in further money https://www.washingtonpost.com/newssearch/?query=소액결제 so as to add to The present $0.fifty four in free hard cash soon after personal debt that Lexar has. This means Micron would shell out less than $5 a share for Lexars belongings, that's small.
There is certainly also speculation that SanDisk is very seriously thinking about having a operate at getting Lexar. This is able to sound right because SanDisk would solidify its leadership placement.
Furthermore, SanDisk has a close Doing the job relationship with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to amass Lexar.
Continue to be tune. A special shareholder Assembly to assessment the takeover bid has been moved to June sixteen. In my look at, the $10 bid undervalues Lexar. Concern is will a white knight area?