On Friday, flash media maker Lexar Media (LEXR) received http://www.thefreedictionary.com/소액결제 a better revised takeover bid from Micron Technology (MU). The revised bid destinations the all-inventory exchange supply at about $ten a share, up marginally in the Original bid.
But main shareholders like billionaire Trader Carl Icahn together with hedge cash and portfolio supervisors have deemed the Original bid being inappropriate. Elliott Associates believes the initial bid “noticeably undervalues Lexar,” and feels Lexar is truly worth between $one.5 billion and $2.4 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 as well very low and really should be turned down by shareholders. Micron wants to shell out around one.10x sales for Lexar although the industry leader SanDisk (SNDK) 소액결제현금화 is investing at four.35x revenue. Lexar also provides a $400 million patent infringement lawsuit in opposition to Toshiba that it experienced Formerly won but has become topic to an enchantment by Toshiba.
Consider it by doing this, An effective $400 million settlement in favor of Lexar would equate to all-around $4.eighty three per share in added dollars to add to The existing $0.fifty four in cost-free funds after financial debt that Lexar has. This means Micron would shell out less than $5 a share for Lexars property, which is low.
There may be also speculation that SanDisk is significantly pondering taking a operate at obtaining Lexar. This would sound right considering that SanDisk would solidify its leadership position.
What's more, SanDisk has a close working marriage with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to amass Lexar.
Continue to be tune. A Distinctive shareholder Conference to assessment the takeover bid has long been moved to June sixteen. In my perspective, the $ten bid undervalues Lexar. Dilemma is will a white knight area?