On Friday, flash media maker Lexar Media (LEXR) received a greater revised takeover bid from Micron Technologies (MU). The revised bid areas the all-inventory exchange offer you at all over $ten a share, up marginally within the initial bid.
But major shareholders together with billionaire Trader Carl Icahn as well as hedge money and portfolio supervisors have deemed the initial bid to get inappropriate. Elliott Associates thinks the First bid “significantly undervalues Lexar,” and feels Lexar is worth involving $1.five billion and $2.4 billion. The estimate is perfectly previously mentioned the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way far too low and should be rejected by shareholders. Micron wishes to fork out all-around 1.10x revenue for Lexar though the market leader SanDisk (SNDK) is trading at 4.35x revenue. Lexar also contains a $400 million patent infringement lawsuit from Toshiba that it experienced previously won but has become topic to an attraction by Toshiba.
Think about it this way, A prosperous $four hundred million settlement in favor of Lexar would equate to close to $4.eighty three per share in 정보이용료 extra cash to add to The existing $0.54 in totally free cash immediately after debt that Lexar has. What this means is Micron would pay out below $5 a share for Lexars belongings, which happens to be minimal.
There may be also speculation that SanDisk is very seriously considering using a operate at getting Lexar. This may seem sensible considering that SanDisk would solidify its leadership place.
Furthermore, SanDisk has a close Operating relationship with Toshiba, which could see SanDisk fall or reduce the settlement if it managed to acquire Lexar.
Stay tune. A special shareholder meeting to evaluation the takeover bid is moved to June sixteen. In my watch, https://www.washingtonpost.com/newssearch/?query=소액결제 the $10 bid undervalues Lexar. Dilemma is will a white knight surface area?