On Friday, flash media maker Lexar Media (LEXR) been given a higher revised takeover bid from Micron Technologies (MU). The revised bid spots the all-inventory exchange supply at about $10 a share, up marginally from your initial bid.
But significant shareholders such as billionaire Trader Carl Icahn as well as hedge cash and portfolio administrators have considered the initial bid to be inappropriate. Elliott Associates believes the initial bid “considerably undervalues Lexar,” and feels Lexar is value in between $one.five billion and $2.4 billion. The estimate is properly over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too very low and really should be turned down by shareholders. Micron http://www.bbc.co.uk/search?q=소액결제 wishes to pay all over one.10x profits for Lexar when the market leader SanDisk (SNDK) is investing at 4.35x revenue. Lexar also provides a $400 million patent infringement lawsuit versus Toshiba that it experienced Earlier gained but has become subject to an attractiveness by Toshiba.
Think it over using this method, An effective $four hundred million settlement in favor of Lexar would equate to close to $4.83 for each share in additional dollars to incorporate to The present $0.fifty four in cost-free money just after personal debt that Lexar has. What this means is Micron would spend under $5 a share for Lexars assets, and that is low.
There exists also speculation that SanDisk is critically considering taking a operate at buying Lexar. This would make sense due to the fact SanDisk would solidify its leadership position.
Also, SanDisk has an in depth Performing partnership with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to amass Lexar.
Remain tune. A Unique shareholder Conference to critique the takeover bid has actually been moved to June 16. In my watch, the $10 bid undervalues Lexar. Problem is will a white knight more info floor?