On Friday, flash media maker Lexar Media (LEXR) obtained a higher revised takeover bid from Micron Technology (MU). The revised bid destinations the all-inventory exchange give at close to $ten a share, up marginally with the Preliminary bid.
But key shareholders which include billionaire investor Carl Icahn together with hedge money and portfolio administrators have considered the Original bid to become inappropriate. Elliott Associates thinks the Original bid “significantly undervalues Lexar,” and feels Lexar is value among $one.5 billion and $2.four billion. The estimate is effectively earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way way too very low and needs to be rejected by shareholders. Micron wants 소액결제정책 to fork out around 1.10x profits for Lexar though the market chief SanDisk (SNDK) is investing at four.35x revenue. Lexar also features a $four hundred million patent infringement lawsuit versus Toshiba that it experienced Earlier received but is currently issue to an charm by Toshiba.
Think about it in this way, a successful $400 million settlement in favor of Lexar would equate to around $four.eighty three per share in additional money to add to The existing $0.54 in no cost money following personal debt that Lexar has. This suggests Micron would shell out less than $five a share for Lexars property, which happens to be very low.
There is certainly also speculation that SanDisk is very seriously contemplating having a run at acquiring Lexar. This would make sense considering the fact that SanDisk would solidify its Management place.
Additionally, SanDisk has an in depth Doing the job marriage with https://en.search.wordpress.com/?src=organic&q=소액결제 Toshiba, which could see SanDisk drop or reduce the settlement if it managed to obtain Lexar.
Keep tune. A Particular shareholder Assembly to assessment the takeover bid continues to be moved to June sixteen. In my watch, the $ten bid undervalues Lexar. Problem is will a white knight surface?