On Friday, flash media maker Lexar Media (LEXR) received an increased revised takeover bid from Micron Technological know-how (MU). The revised bid areas the all-stock exchange offer you at all over $10 a share, up marginally within the initial bid.
But major shareholders like billionaire Trader Carl Icahn coupled with hedge cash and portfolio administrators have considered the Original bid for being inappropriate. Elliott Associates thinks the Preliminary bid “appreciably undervalues Lexar,” and feels Lexar is worth between $1.five billion and $two.four billion. The estimate is well above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too lower and must be rejected by shareholders. Micron really wants to pay close to one.10x sales for Lexar while the marketplace chief SanDisk (SNDK) is trading at 4.35x gross sales. Lexar also provides a $four hundred 소액결제현금화 million patent infringement lawsuit against Toshiba that it experienced Earlier gained but is now topic to an attractiveness by Toshiba.
Think it over in this manner, An effective $four hundred million settlement in favor of Lexar would equate to all around $4.eighty three for each share in supplemental income to add to the current $0.54 in no cost cash immediately after financial debt that Lexar has. This implies Micron would pay out below $five a share for Lexars assets, which happens to be low.
There is certainly also speculation that SanDisk is seriously serious about getting a run at obtaining Lexar. This could sound right because SanDisk would solidify its Management position.
What's more, SanDisk has a detailed Doing work marriage with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to acquire Lexar. http://www.bbc.co.uk/search?q=소액결제
Keep tune. A Distinctive shareholder Conference to evaluate the takeover bid is moved to June sixteen. In my view, the $ten bid undervalues Lexar. Query is will a white knight surface?