On Friday, flash media maker Lexar Media (LEXR) acquired the next revised takeover https://www.washingtonpost.com/newssearch/?query=소액결제 bid from Micron Technological know-how (MU). The revised bid destinations the all-inventory Trade give at all-around $10 a share, up marginally within the First bid.
But important shareholders together with billionaire investor Carl Icahn coupled with hedge cash and portfolio administrators have deemed the initial bid to generally be inappropriate. Elliott Associates thinks the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is truly worth concerning $one.5 billion and $2.4 billion. The estimate is nicely higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too lower and ought to be turned down by shareholders. Micron hopes to fork out close to one.10x profits for Lexar whilst the industry leader SanDisk (SNDK) is trading at 4.35x income. Lexar also contains a $four hundred million patent infringement lawsuit against Toshiba that it had previously won but has become subject matter to an appeal by Toshiba.
Think it over this way, A prosperous $400 million settlement in favor of Lexar would equate to close to $four.eighty three for every share in supplemental money to add to The present $0.54 in free funds after debt that Lexar has. What this means is Micron would spend lower than 신용카드현금화 $five a share for Lexars belongings, which happens to be minimal.
You can find also speculation that SanDisk is seriously contemplating using a run at buying Lexar. This might seem sensible due to the fact SanDisk would solidify its Management situation.
What's more, SanDisk has a detailed working relationship with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to obtain Lexar.
Stay tune. A Distinctive shareholder meeting to review the takeover bid has become moved to June sixteen. In my check out, the $10 bid undervalues Lexar. Question is will a white knight floor?