On Friday, flash media maker Lexar Media (LEXR) obtained an increased revised takeover bid from Micron Technological innovation (MU). The revised bid destinations the all-inventory Trade provide at all-around $10 a share, 정보이용료 up marginally within the Original bid.
But main shareholders including billionaire Trader Carl Icahn in addition to hedge money and portfolio administrators have considered the First bid to become inappropriate. Elliott Associates thinks the First bid “substantially undervalues Lexar,” and feels Lexar is value in between $one.5 billion and $two.4 billion. The estimate is well higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way as well low and must be turned down by shareholders. Micron wishes to pay out around one.10x income for Lexar whilst the marketplace chief SanDisk (SNDK) is buying and selling at four.35x revenue. Lexar also includes a $four hundred million patent infringement lawsuit against Toshiba that it had Earlier received but is now topic to an charm by Toshiba.
Give it some thought this fashion, An effective $four hundred million settlement in favor of Lexar would equate to around $four.eighty three per share in additional money to add to the current $0.fifty four in absolutely free cash following personal debt that Lexar has. What this means is Micron would fork out below $5 a share for Lexars property, which is very low.
There exists also http://www.bbc.co.uk/search?q=소액결제 speculation that SanDisk is seriously serious about having a operate at obtaining Lexar. This may seem sensible due to the fact SanDisk would solidify its Management place.
In addition, SanDisk has a close working romance with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to acquire Lexar.
Keep tune. A Unique shareholder Assembly to evaluation the takeover bid has actually been moved to June 16. In my view, the $ten bid undervalues Lexar. Problem is will a white knight surface?