On Friday, flash media maker Lexar Media (LEXR) gained an increased revised takeover bid from Micron Technological know-how (MU). The revised bid spots the all-stock Trade supply at about $ten a share, up marginally within the Original bid.
But major shareholders like billionaire Trader Carl Icahn coupled with hedge funds and portfolio administrators have deemed the First bid to become inappropriate. Elliott Associates thinks the initial bid “appreciably undervalues Lexar,” and feels Lexar is truly worth among $one.5 billion and $two.4 billion. The https://www.washingtonpost.com/newssearch/?query=소액결제 estimate is very well previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too reduced and ought to be turned down by shareholders. Micron wishes to fork out close to 1.10x income for Lexar even though the market chief SanDisk (SNDK) is buying and selling at 4.35x sales. Lexar also includes a $four hundred million patent infringement lawsuit against Toshiba that it had Formerly received but is 신용카드현금화 now subject matter to an charm by Toshiba.
Think about it this way, a successful $400 million settlement in favor of Lexar would equate to close to $four.83 per share in further funds so as to add to the current $0.54 in totally free dollars after credit card debt that Lexar has. This implies Micron would shell out under $five a share for Lexars belongings, which can be reduced.
There may be also speculation that SanDisk is seriously serious about taking a run at acquiring Lexar. This may seem sensible given that SanDisk would solidify its leadership situation.
In addition, SanDisk has an in depth working marriage with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to acquire Lexar.
Remain tune. A special shareholder meeting to evaluate the takeover bid continues to be moved to June sixteen. In my see, the $10 bid undervalues Lexar. Problem is will a white knight surface area?