SanDisk to derail the Micron-Lexar deal?

Iria · Apr 14, 2006, 05:40 PM

SanDisk has hired Morgan Stanley to help it consider a possible bid for rival memory card maker Lexar Media, which agreed last month to be bought by Micron Technology, a source familiar with the situation confirmed Thursday.

Micron's deal to buy Lexar currently values the company at $8.46 per share, or nearly $700 million.

But Lexar's Nasdaq stock closed above that price on Thursday, at $9.17, after rallying 4.32 percent as investors wagered that the company would receive a better offer. SanDisk's potential interest was first reported on Thursday in The Deal.
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Read More / Source: News.com

Apr 14, 2006, 05:40 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	SanDisk to derail the Micron-Lexar deal? SanDisk has hired Morgan Stanley to help it consider a possible bid for rival memory card maker Lexar Media, which agreed last month to be bought by Micron Technology, a source familiar with the situation confirmed Thursday. Micron's deal to buy Lexar currently values the company at $8.46 per share, or nearly $700 million. But Lexar's Nasdaq stock closed above that price on Thursday, at $9.17, after rallying 4.32 percent as investors wagered that the company would receive a better offer. SanDisk's potential interest was first reported on Thursday in The Deal. ___________ Read More / Source: News.com