On Friday, flash media maker Lexar Media (LEXR) gained a better revised takeover bid from Micron Technologies (MU). The revised bid destinations the all-inventory exchange offer at all over $10 a share, up marginally from the Preliminary bid.
But big shareholders which includes billionaire Trader Carl Icahn along with hedge money and portfolio administrators have considered the Original bid to be inappropriate. Elliott Associates believes the Original bid “appreciably undervalues Lexar,” and feels Lexar is value involving $one.five billion and $2.four billion. The estimate is nicely above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way as well lower and has to be rejected by shareholders. Micron would like to pay out about 1.10x product sales for Lexar although the marketplace chief SanDisk (SNDK) is buying and selling at 4.35x revenue. https://www.washingtonpost.com/newssearch/?query=소액결제 Lexar also has a $four hundred million patent infringement lawsuit against Toshiba that it had Formerly won but is now issue to an enchantment by Toshiba.
Think it over using this method, A prosperous $four hundred million settlement in favor of Lexar would equate to all around $four.eighty three per share in additional income to incorporate to The existing $0.54 in absolutely free funds soon after financial debt that Lexar has. This implies Micron would shell out below $five a share for Lexars belongings, which is lower.
There exists also speculation that SanDisk is very seriously contemplating having a run at buying Lexar. This may seem sensible due to the fact SanDisk would solidify its Management placement.
Moreover, SanDisk has an in depth Doing work romance with Toshiba, which could see SanDisk fall or decrease the settlement if it managed to acquire Lexar.
Continue to be tune. A special shareholder Conference to assessment the takeover bid http://xn--7y2br0oc8jnkbb1f.kr/ has long been moved to June 16. In my look at, the $10 bid undervalues Lexar. Dilemma is will a white knight floor?