On Friday, flash media maker Lexar Media (LEXR) gained a higher revised takeover bid from Micron Technological know-how (MU). The revised bid spots the all-inventory exchange provide at about $10 a share, up 신용카드현금화 marginally with the initial bid.
But important shareholders including billionaire Trader Carl Icahn as well as hedge funds and portfolio managers have considered the initial bid to become inappropriate. Elliott Associates thinks the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is value involving $one.5 billion and $2.four billion. The estimate is effectively previously mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way as well reduced and must be turned down by shareholders. Micron wishes to pay all over one.10x revenue for Lexar though the industry leader SanDisk (SNDK) is investing at four.35x revenue. Lexar also has a $four hundred million patent infringement lawsuit towards Toshiba that it experienced previously gained but has become subject to an attraction by Toshiba.
Think about it by doing this, A prosperous $four hundred million settlement in favor of Lexar would equate to all-around $4.eighty three for each share in extra money to include to The existing $0.54 in free funds following financial debt that Lexar has. This means Micron would pay a lot less than $five a share for Lexars belongings, which happens to be small.
There exists also speculation that SanDisk is seriously pondering taking a operate at obtaining Lexar. This may sound right https://www.washingtonpost.com/newssearch/?query=소액결제 since SanDisk would solidify its Management placement.
Furthermore, SanDisk has a close Doing the job relationship with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to acquire Lexar.
Stay tune. A Specific shareholder meeting to assessment the takeover bid has actually been moved to June 16. In my look at, the $10 bid undervalues Lexar. Dilemma is will a white knight surface?