On Friday, flash media maker Lexar Media (LEXR) received an increased revised takeover bid from Micron Technology (MU). The revised bid locations the all-stock Trade offer at about $ten a share, up marginally in the First bid.
But key shareholders which include billionaire Trader Carl Icahn in addition to hedge resources and portfolio supervisors have considered the Preliminary bid to become inappropriate. Elliott Associates thinks the First bid “drastically undervalues Lexar,” and feels Lexar is well worth concerning $one.five billion and $two.four billion. The estimate is well previously 신용카드현금화 mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way also low and must be turned down by shareholders. Micron wants to fork out all-around 1.10x profits for Lexar while the marketplace chief SanDisk (SNDK) is trading at four.35x sales. Lexar also features a $400 million patent infringement lawsuit from Toshiba that it had Earlier gained but is now subject matter to an charm by Toshiba.
Think it over using this method, a successful $400 million settlement in favor of Lexar would equate to all around $4.eighty three for every share in more dollars to add to The present $0.fifty four in absolutely free hard cash just after personal debt that Lexar has. This implies Micron would shell out below $5 a share for Lexars belongings, which can be low.
You can find also speculation that SanDisk is severely pondering having a operate at attaining Lexar. This might make sense given that SanDisk would solidify its Management situation.
In addition, SanDisk has an in depth Performing connection with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to amass Lexar.
Stay tune. A Particular shareholder Conference to assessment the takeover bid has actually been moved to June sixteen. In my watch, the $ten bid http://edition.cnn.com/search/?text=소액결제 undervalues Lexar. Dilemma is will a white knight surface?