On Friday, flash media maker Lexar Media (LEXR) been given the next revised takeover bid from Micron Technological innovation (MU). The revised bid locations the all-inventory exchange present at all-around $ten a share, up marginally within the First bid.
But big shareholders which include billionaire investor Carl Icahn together with hedge funds and portfolio administrators have deemed the Original bid to become inappropriate. Elliott Associates thinks the initial bid “appreciably undervalues Lexar,” and feels Lexar is worthy of amongst $one.five billion and $two.4 billion. The estimate is well over the revised takeover bid of about $827 million.
I must concur and say 정보이용료 the revised takeover bid is way way too minimal and has to be turned down by shareholders. Micron desires to spend all over 1.10x sales for Lexar whilst the market leader SanDisk (SNDK) is buying and selling at 4.35x sales. Lexar also provides a $400 million patent infringement lawsuit from Toshiba that it had Beforehand gained but has become issue to an attractiveness by Toshiba.
Think about it in this manner, An effective $four https://www.washingtonpost.com/newssearch/?query=소액결제 hundred million settlement in favor of Lexar would equate to all over $4.83 for each share in added income to add to The present $0.fifty four in free of charge hard cash immediately after financial debt that Lexar has. This suggests Micron would spend under $five a share for Lexars assets, which is minimal.
There exists also speculation that SanDisk is very seriously thinking about having a operate at getting Lexar. This may seem sensible considering that SanDisk would solidify its Management situation.
In addition, SanDisk has an in depth Doing the job connection with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to amass Lexar.
Continue to be tune. A Unique shareholder meeting to critique the takeover bid has long been moved to June 16. In my watch, the $10 bid undervalues Lexar. Concern is will a white knight floor?