Hedge Funds Flog Micron/Lexar Deal
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Several hedge funds continue to oppose Micron’s acquisition of Lexar Media, and recently told the companies that they plan to vote against the merger when shareholders vote on the matter Friday. Interesting twist in the merger between Micron Technology and Lexar.
In a filing with the Securities and Exchange Commission Tuesday, fund partners Elliot Associates and Elliot International, which together own 7.5% of Lexar shares, disclosed that the funds have reaffirmed their opposition to the deal as currently structured in a meeting with Micron and Lexar’s management last week.
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