On Friday, flash media maker Lexar Media (LEXR) received https://en.wikipedia.org/wiki/?search=소액결제 the next revised takeover bid from Micron Technological innovation (MU). The revised bid areas the all-stock exchange offer you at all around $ten a share, up marginally within the initial bid.
But main shareholders like billionaire investor Carl Icahn in addition to hedge money and portfolio professionals have considered the initial bid to generally be inappropriate. Elliott Associates thinks the initial bid “drastically undervalues Lexar,” and feels Lexar is value in between $1.five billion and $two.4 billion. The estimate is very well above the revised takeover bid of about $827 million.
I need to concur and say the revised takeover bid is way also low and ought to be turned down by shareholders. Micron hopes to spend all around 1.10x gross sales for Lexar though the market chief SanDisk (SNDK) is trading at four.35x gross sales. Lexar also has a $400 million patent infringement lawsuit in opposition to Toshiba that it had Beforehand gained but is now issue to an enchantment by Toshiba.
Think about it this way, a successful $four hundred million settlement in favor of Lexar would equate to all around $4.83 for every share in supplemental money to add to The present $0.54 in no cost funds following financial debt that Lexar has. What this means is Micron would pay a lot less than $5 a share for Lexars belongings, which can be reduced.
There exists also speculation that SanDisk is critically contemplating getting a run at acquiring Lexar. This might make sense because SanDisk would solidify its Management place.
Also, SanDisk has a detailed Performing marriage with Toshiba, which could see SanDisk fall 정보이용료 or decrease the settlement if it managed to accumulate Lexar.
Stay tune. A Distinctive shareholder Conference to assessment the takeover bid has long been moved to June 16. In my view, the $10 bid undervalues Lexar. Concern is will a white knight area?