On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid 소액결제정책 from Micron Technological know-how (MU). The revised bid destinations the all-stock exchange give at all over $ten a share, up marginally from the Original bid.
But big shareholders including billionaire investor Carl Icahn in addition to hedge resources and portfolio administrators have deemed the Original bid to get inappropriate. Elliott Associates thinks the Original bid “considerably undervalues Lexar,” and feels Lexar is well worth concerning $1.5 billion and $2.four billion. The estimate is effectively above the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too low and needs to be turned down by shareholders. Micron wants to shell out close to 1.10x revenue for Lexar when the market chief SanDisk (SNDK) is buying and selling at 4.35x product sales. Lexar also features a $400 million patent infringement lawsuit against Toshiba that it experienced Earlier received but is now matter to an charm by Toshiba.
Think about it in this way, A prosperous $four hundred million settlement in favor of Lexar would equate to around $four.83 for each share in supplemental money to include to the current $0.54 in free of charge dollars following personal debt that Lexar has. This implies Micron would pay out fewer than $five a share for Lexars property, which happens to be very low.
You can https://www.washingtonpost.com/newssearch/?query=소액결제 find also speculation that SanDisk is severely serious about getting a operate at buying Lexar. This is able to seem sensible given that SanDisk would solidify its leadership posture.
Also, SanDisk has a detailed Performing connection with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to amass Lexar.
Continue to be tune. A Unique shareholder Assembly to assessment the takeover bid has been moved to June sixteen. In my see, the $ten bid undervalues Lexar. Problem is will a white knight surface area?