On Friday, flash media maker Lexar Media (LEXR) received a greater 소액결제현금화 revised takeover bid from Micron Engineering (MU). The revised bid sites the all-stock Trade offer at all-around $ten a share, up marginally in the initial bid.
But big shareholders including billionaire investor Carl Icahn together with hedge money and portfolio administrators have deemed the initial bid for being inappropriate. Elliott Associates https://www.washingtonpost.com/newssearch/?query=소액결제 thinks the initial bid “noticeably undervalues Lexar,” and feels Lexar is worthy of amongst $1.5 billion and $two.4 billion. The estimate is very well over the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way too lower and should be rejected by shareholders. Micron hopes to shell out all over 1.10x profits for Lexar whilst the marketplace chief SanDisk (SNDK) is investing at four.35x sales. Lexar also provides a $400 million patent infringement lawsuit versus Toshiba that it experienced Earlier received but has become matter to an enchantment by Toshiba.
Give it some thought in this manner, An effective $400 million settlement in favor of Lexar would equate to close to $four.eighty three for every share in supplemental income to include to The present $0.fifty four in absolutely free funds after personal debt that Lexar has. What this means is Micron would fork out below $five a share for Lexars assets, which happens to be lower.
There's also speculation that SanDisk is severely considering taking a operate at getting Lexar. This is able to sound right since SanDisk would solidify its Management posture.
Moreover, SanDisk has a close Performing relationship with Toshiba, which could see SanDisk drop or reduce the settlement if it managed to accumulate Lexar.
Continue to be tune. A Particular shareholder meeting to overview the takeover bid has long been moved to June 16. In my see, the $ten bid undervalues Lexar. Dilemma is will a white knight surface?