On Friday, flash media maker Lexar Media (LEXR) received a higher revised takeover bid from Micron Technology (MU). The revised bid areas the all-stock exchange offer at close to $ten a share, up marginally from your Preliminary bid.
But significant shareholders together with billionaire investor Carl Icahn in conjunction with hedge money and portfolio professionals have considered the initial bid to be inappropriate. Elliott Associates thinks the initial bid “substantially undervalues Lexar,” and feels Lexar is value between $1.5 billion and $two.four billion. The estimate is properly previously mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way far too reduced and really should be turned down by shareholders. Micron wants to shell out close to 1.10x sales for Lexar when the marketplace leader SanDisk (SNDK) is buying and selling at four.35x gross sales. Lexar also features a $400 소액결제정책 million patent infringement lawsuit versus Toshiba that it had Formerly received but has become subject to an enchantment by Toshiba.
Consider it in this way, An effective $400 million settlement in favor of Lexar would equate to all-around $4.eighty three for every share in supplemental dollars to include to The existing $0.54 in free income just after debt that Lexar has. This suggests Micron would pay back fewer than $five a share for Lexars assets, which happens to be minimal.
There's also speculation that SanDisk is critically thinking of having a run at acquiring Lexar. This is able to make sense because SanDisk would solidify its http://www.bbc.co.uk/search?q=소액결제 leadership posture.
Additionally, SanDisk has a close working connection with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to amass Lexar.
Remain tune. A Exclusive shareholder meeting to evaluation the takeover bid has actually been moved to June 16. In my look at, the $10 bid undervalues Lexar. Query is will a white knight area?