On Friday, flash media maker Lexar Media (LEXR) received a higher revised takeover bid from Micron Engineering (MU). The revised bid destinations the all-inventory exchange give at all-around $ten a share, up marginally from the First bid.
But key shareholders together with billionaire Trader Carl Icahn as well as hedge cash and portfolio administrators have considered the Preliminary bid being inappropriate. Elliott Associates thinks the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is well worth involving $1.five billion and $2.4 billion. The estimate is properly earlier mentioned the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too small and https://en.wikipedia.org/wiki/?search=소액결제 needs to be turned down by shareholders. Micron really wants to pay all-around one.10x revenue for Lexar although the marketplace chief SanDisk (SNDK) is buying and selling at four.35x gross sales. Lexar also contains a $400 million patent infringement lawsuit towards Toshiba that it had Beforehand gained but is now topic to an attractiveness by Toshiba.
Think it over this way, A prosperous $400 million settlement in favor of Lexar would equate to close to $four.eighty three for each share in further funds to include to the current $0.fifty four in cost-free cash just after personal debt that Lexar has. What this means is Micron would pay out less than $5 a share for Lexars property, and that is reduced.
There exists also speculation that SanDisk is very seriously considering taking 소액결제현금화 a run at attaining Lexar. This may sound right considering that SanDisk would solidify its leadership position.
Additionally, SanDisk has a close Doing work connection with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to acquire Lexar.
Stay tune. A Distinctive shareholder Conference to evaluate the takeover bid continues to be moved to June 16. In my see, the $10 bid undervalues Lexar. Problem is will a white knight floor?