Tuesday, May 23, 2006

ISS Recommends Lexar Sale

Lexar Media is reporting that Institutional Shareholder Services, a large proxy advisory firm, is recommending that Lexar shareholders vote for the company's proposed merger with Boise-based Micron Technology. Lexar said yesterday that it believes that the proposed merger with Micron is the best alternative for Lexar and its stockholders. Lexar is a manufacturer of flash memory products, memory cards, and card readers. Micron and Lexar announced a plan for a stock-for-stock merger in March. Lexar is listed on the Nasdaq as LEXR. Micron is also publicly listed, on the NYSE as MU.