On Friday, flash media maker Lexar Media (LEXR) obtained a greater revised takeover bid from Micron Technology (MU). The revised bid spots the all-stock Trade provide at all-around $ten a share, up marginally within the Preliminary bid.
But major shareholders such as billionaire Trader Carl Icahn coupled with hedge cash and portfolio supervisors have deemed the Original bid being inappropriate. Elliott Associates thinks the initial bid “considerably undervalues Lexar,” and feels Lexar is well worth involving $1.five billion and $2.4 billion. The estimate is effectively previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too minimal and must be rejected by shareholders. Micron wishes to pay out all over one.10x revenue for Lexar whilst the market https://en.wikipedia.org/wiki/?search=소액결제 chief SanDisk (SNDK) is trading at four.35x revenue. Lexar also contains a $400 million patent infringement lawsuit versus Toshiba that it had Beforehand received but has become matter to an appeal by Toshiba.
Think about it in this manner, A prosperous $four hundred million settlement in favor of Lexar would equate to about $four.eighty three per share in further hard cash to add to The existing $0.fifty four in cost-free money after financial debt that Lexar has. This means Micron would shell out under $five a share for Lexars assets, which is reduced.
There's also speculation that SanDisk is severely considering taking a operate at attaining Lexar. This may make sense considering the fact that SanDisk would solidify its leadership place.
Also, SanDisk has an in depth Performing romantic relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to obtain Lexar.
Keep tune. A Unique shareholder Assembly to evaluation the takeover bid has been moved to June 신용카드현금화 16. In my look at, the $10 bid undervalues Lexar. Query is will a white knight floor?