On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technologies (MU). The revised bid places the all-stock Trade give at about $ten a share, up marginally in the Preliminary bid.
But main shareholders like billionaire investor Carl Icahn together with hedge money and portfolio managers have considered the Preliminary bid to be inappropriate. Elliott Associates thinks the Original bid “drastically undervalues Lexar,” and feels Lexar is worthy of amongst $1.5 billion and $2.4 billion. The estimate is perfectly higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way also lower and really should be turned down by shareholders. https://en.search.wordpress.com/?src=organic&q=소액결제 Micron really wants to spend all-around one.10x income for Lexar even though the industry leader SanDisk (SNDK) is buying and selling at four.35x income. Lexar also contains a $four hundred million patent infringement lawsuit in opposition to Toshiba that it had Earlier gained but is now matter to an attractiveness by Toshiba.
Consider it in this way, An effective $400 million settlement in favor of Lexar would equate to all around $four.83 for every share in further dollars to add to the current $0.54 in totally free dollars just after personal debt that Lexar has. What this means is Micron would shell out less than $five a share for Lexars property, that is small.
There may be also speculation that SanDisk is seriously thinking of getting a operate at acquiring Lexar. This would make sense considering the fact that SanDisk would solidify its leadership place.
Furthermore, SanDisk has a detailed Performing connection with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Keep tune. A Exclusive shareholder 신용카드현금화 Conference to overview the takeover bid has actually been moved to June 16. In my watch, the $10 bid undervalues Lexar. Problem is will a white knight surface?