On Friday, flash media maker Lexar Media (LEXR) obtained the next revised takeover bid from Micron Engineering (MU). The revised bid places the all-inventory exchange offer you at close to $ten a share, up marginally from your Preliminary bid.
But major shareholders such as billionaire investor Carl Icahn together with hedge money and portfolio professionals have deemed the initial bid being inappropriate. Elliott Associates believes the Preliminary https://en.wikipedia.org/wiki/?search=소액결제 bid “substantially undervalues Lexar,” and feels Lexar is really worth among $one.5 billion and $2.four billion. The estimate is effectively higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid 소액결제정책 is way much too lower and should be turned down by shareholders. Micron hopes to pay out close to 1.10x profits for Lexar whilst the market leader SanDisk (SNDK) is investing at 4.35x product sales. Lexar also provides a $four hundred million patent infringement lawsuit in opposition to Toshiba that it had Earlier gained but is now subject to an appeal by Toshiba.
Give it some thought this way, A prosperous $four hundred million settlement in favor of Lexar would equate to all around $4.83 for each share in added dollars to add to The existing $0.fifty four in totally free income after personal debt that Lexar has. This suggests Micron would pay back lower than $5 a share for Lexars assets, that is small.
There exists also speculation that SanDisk is severely thinking of using a run at acquiring Lexar. This is able to seem sensible given that SanDisk would solidify its Management placement.
What's more, SanDisk has a detailed Doing work romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Keep tune. A Unique shareholder Assembly to overview the takeover bid has long been moved to June 16. In my perspective, the $10 bid undervalues Lexar. Problem is will a white knight area?