On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Technological know-how (MU). The revised bid destinations the all-stock Trade offer you at about $10 a share, up marginally in 소액결제현금화 the initial bid.
But key shareholders together with billionaire investor Carl Icahn in addition to hedge cash and portfolio administrators have deemed the initial bid to be inappropriate. Elliott Associates believes the First bid “appreciably undervalues Lexar,” and feels Lexar is really worth among $1.5 billion and $2.four billion. The estimate is very well higher than the revised takeover bid of about $827 million.
I must concur and say the revised takeover bid is way far too minimal and has to be rejected by shareholders. Micron wants to pay back around 1.10x gross sales for Lexar although the market chief SanDisk (SNDK) is buying and selling at four.35x profits. Lexar also features a $400 million patent infringement lawsuit against Toshiba that it experienced Earlier received but has become topic to an enchantment by Toshiba.
Give it some thought in this manner, a successful $four hundred million settlement in favor of Lexar would equate to all around $four.eighty three for each share in further hard cash so as to add to The present $0.fifty four in free income after debt that Lexar has. What this means is Micron would spend below $5 a share for Lexars https://www.washingtonpost.com/newssearch/?query=소액결제 assets, and that is very low.
There exists also speculation that SanDisk is seriously thinking of using a operate at acquiring Lexar. This might seem sensible because SanDisk would solidify its Management position.
In addition, SanDisk has an in depth Operating romantic relationship with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to obtain Lexar.
Remain tune. A Exclusive shareholder Assembly to evaluation the takeover bid is moved to June 16. In my watch, the $ten bid undervalues Lexar. Concern is will a white knight surface?