On Friday, flash media maker Lexar Media (LEXR) obtained a better revised takeover bid from Micron Know-how (MU). The revised bid destinations the all-inventory Trade supply at all around $10 a share, http://edition.cnn.com/search/?text=소액결제 up marginally with the Preliminary bid.
But important shareholders such as billionaire investor Carl Icahn coupled with hedge funds and portfolio supervisors have considered the Preliminary bid to be inappropriate. Elliott Associates believes the Preliminary bid “significantly undervalues Lexar,” and feels Lexar is really worth between $1.5 billion and $two.4 billion. http://xn--7y2br0oc8jnkbb1f.kr/ The estimate is perfectly higher than the revised takeover bid of about $827 million.
I have to concur and say the revised takeover bid is way much too reduced and needs to be turned down by shareholders. Micron desires to pay back all around one.10x gross sales for Lexar whilst the industry leader SanDisk (SNDK) is trading at four.35x sales. Lexar also has a $four hundred million patent infringement lawsuit in opposition to Toshiba that it experienced Formerly won but is currently issue to an enchantment by Toshiba.
Give it some thought using this method, A prosperous $400 million settlement in favor of Lexar would equate to all around $four.83 for each share in supplemental cash so as to add to the current $0.54 in free hard cash soon after personal debt that Lexar has. This implies Micron would spend fewer than $5 a share for Lexars assets, which is low.
There is certainly also speculation that SanDisk is seriously considering having a run at getting Lexar. This would sound right given that SanDisk would solidify its leadership placement.
Also, SanDisk has a close working partnership with Toshiba, which could see SanDisk drop or lessen the settlement if it managed to accumulate Lexar.
Stay tune. A Distinctive shareholder Conference to evaluate 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?