On Friday, https://en.search.wordpress.com/?src=organic&q=소액결제 flash media maker Lexar Media (LEXR) gained an increased revised takeover bid from Micron Technological know-how (MU). The revised bid places the all-stock exchange present at all around $ten a share, up marginally with the Preliminary bid.
But key shareholders which includes billionaire investor Carl Icahn along with hedge money and portfolio managers have considered the Preliminary bid to generally be inappropriate. Elliott Associates believes the First bid “substantially undervalues Lexar,” and feels Lexar is really worth among $1.5 billion and $two.4 billion. The estimate is well 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 must be rejected by shareholders. Micron hopes to pay out close to 1.10x income for Lexar whilst the market leader SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also contains a $400 million patent infringement lawsuit versus Toshiba that it experienced Formerly won but is currently subject matter to an appeal by Toshiba.
Give it some thought using this method, A prosperous $four hundred million settlement in favor of Lexar would equate to all-around $four.83 for each share in additional money so as to add to The present $0.54 in absolutely free income soon after financial debt that Lexar has. This implies Micron would pay out less than $5 a share for Lexars property, and that is very low.
There exists also speculation that SanDisk is significantly contemplating using a operate at obtaining Lexar. This would sound right since SanDisk would solidify its leadership position.
Furthermore, SanDisk has a detailed Doing work partnership with Toshiba, which could see SanDisk 신용카드현금화 fall or reduce the settlement if it managed to accumulate Lexar.
Stay tune. A Particular shareholder Conference to evaluation the takeover bid has actually been moved to June sixteen. In my look at, the $ten bid undervalues Lexar. Question is will a white knight area?