On Friday, flash media maker Lexar Media (LEXR) acquired a higher revised takeover bid from Micron Know-how (MU). The revised bid places the all-inventory exchange https://en.search.wordpress.com/?src=organic&q=소액결제 provide at all-around $10 a share, up marginally from your Original bid.
But important shareholders including billionaire Trader Carl Icahn along with hedge funds and portfolio administrators have deemed the initial bid to get inappropriate. Elliott Associates believes the Preliminary bid “substantially undervalues Lexar,” and feels Lexar is worth between $one.5 billion and $two.four billion. The estimate is well earlier mentioned the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too very low and really should be turned down by shareholders. Micron really wants to pay back around one.10x profits for Lexar although the industry leader SanDisk (SNDK) is trading at four.35x product sales. Lexar also provides a $four hundred million patent infringement lawsuit from Toshiba that it experienced Formerly received but is currently matter to an appeal by Toshiba.
Think it over in this manner, A prosperous $400 million settlement in favor of Lexar would equate to around $4.83 for each share in more income so as to add to the current $0.fifty four in cost-free income after personal debt that Lexar has. What this means is Micron would fork out a lot less than $five a share for Lexars property, and that is minimal.
There is also speculation that SanDisk is significantly serious about taking a run at obtaining Lexar. This may sound right because SanDisk would solidify its Management situation.
What's more, SanDisk has a detailed Performing 소액결제정책 romantic relationship with Toshiba, which could see SanDisk drop or decrease the settlement if it managed to accumulate Lexar.
Stay tune. A Distinctive shareholder Conference to evaluation the takeover bid has long been moved to June 16. In my see, the $ten bid undervalues Lexar. Issue is will a white knight surface area?