On Friday, flash media maker Lexar Media (LEXR) obtained a better revised http://edition.cnn.com/search/?text=소액결제 takeover bid from Micron Technologies (MU). The revised bid destinations the all-inventory exchange supply at about $10 a share, up marginally in the Preliminary bid.
But significant shareholders such as billionaire investor Carl Icahn in addition to hedge funds and portfolio supervisors have considered the Original bid to become inappropriate. Elliott Associates believes the First bid “substantially undervalues Lexar,” and feels Lexar is worthy of in between $one.5 billion and $2.four billion. The estimate is properly higher than the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way too small and needs to be rejected by shareholders. Micron wishes to fork out about 1.10x gross sales for Lexar although the industry leader SanDisk (SNDK) is buying and selling at four.35x product sales. Lexar also includes a $four hundred million patent infringement lawsuit in opposition to Toshiba that it had Beforehand won but has become issue to an attractiveness by Toshiba.
Think about it in this way, An effective $400 million settlement in favor of Lexar would equate to all around $4.83 for each share in further funds to add to The present $0.54 in totally free hard cash just after credit card debt that Lexar has. This implies Micron would pay out a lot less than $five a share for Lexars belongings, which is very low.
There is certainly also speculation that SanDisk is seriously contemplating using a run at attaining Lexar. This may make sense 소액결제현금화 considering the fact that SanDisk would solidify its leadership posture.
What's more, SanDisk has a close Operating romance with Toshiba, which could see SanDisk fall or lessen the settlement if it managed to accumulate Lexar.
Stay tune. A Distinctive shareholder Assembly to evaluate the takeover bid is moved to June 16. In my look at, the $10 bid undervalues Lexar. Query is will a white knight floor?