On Friday, flash media maker Lexar Media (LEXR) acquired a better revised takeover bid from Micron Technological innovation (MU). The revised bid areas the all-stock exchange offer at all-around $ten a share, up marginally with the Original bid.
But main 정보이용료 shareholders which includes billionaire Trader Carl Icahn as well as hedge resources and portfolio professionals have deemed the Preliminary bid to generally be inappropriate. Elliott Associates thinks the First bid “drastically undervalues Lexar,” and feels Lexar is truly worth http://www.bbc.co.uk/search?q=소액결제 involving $one.5 billion and $two.4 billion. The estimate is properly higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too small and needs to be turned down by shareholders. Micron hopes to fork out all around one.10x income for Lexar though the marketplace chief SanDisk (SNDK) is trading at four.35x revenue. Lexar also contains a $four hundred million patent infringement lawsuit against Toshiba that it experienced previously received but is now subject to an enchantment by Toshiba.
Think it over in this manner, An effective $four hundred million settlement in favor of Lexar would equate to all around $4.eighty three per share in supplemental income to incorporate to The present $0.54 in absolutely free hard cash immediately after credit card debt that Lexar has. This suggests Micron would pay out a lot less than $5 a share for Lexars property, and that is small.
There's also speculation that SanDisk is significantly serious about taking a run at buying Lexar. This may seem sensible considering the fact that SanDisk would solidify its leadership position.
Moreover, SanDisk has a close Performing marriage with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to acquire Lexar.
Stay tune. A Exclusive shareholder Assembly to critique the takeover bid has become moved to June 16. In my view, the $ten bid undervalues Lexar. Concern is will a white knight area?