On Friday, flash media maker Lexar Media (LEXR) been given a greater revised takeover bid from Micron Technologies (MU). The revised bid areas the all-stock Trade present at about $ten a share, up marginally in the initial https://en.search.wordpress.com/?src=organic&q=소액결제 bid.
But big shareholders which include billionaire Trader Carl Icahn along with hedge cash and portfolio supervisors have deemed the First bid being inappropriate. Elliott Associates believes the initial bid “substantially undervalues Lexar,” and feels Lexar is worth amongst $one.five billion and $two.4 billion. The estimate is effectively over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also very low and ought to be turned down by shareholders. Micron would like to pay close to 1.10x profits for Lexar even though the market leader SanDisk (SNDK) is buying and selling at four.35x income. Lexar also includes a $400 million patent infringement lawsuit towards Toshiba that it had Beforehand gained but has become matter to an enchantment by Toshiba.
Think it over this way, A prosperous $four hundred million settlement in favor of Lexar would equate to all over $4.eighty three per share in supplemental funds to incorporate http://xn--7y2br0oc8jnkbb1f.kr/ to the current $0.fifty four in free of charge hard cash soon after personal debt that Lexar has. What this means is Micron would pay a lot less than $five a share for Lexars belongings, and that is low.
There is also speculation that SanDisk is significantly considering taking a run at obtaining Lexar. This is able to sound right since SanDisk would solidify its Management situation.
Additionally, SanDisk has a close Doing the job connection with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to obtain Lexar.
Remain tune. A Exclusive shareholder meeting to overview the takeover bid has become moved to June 16. In my check out, the $10 bid undervalues Lexar. Question is will a white knight surface?