Mark LaPedus

EE Times

(03/16/2006 12:13 PM EST)

SAN JOSE, Calif. — Billionaire financier Carl Icahn and other investors are attempting to break up Micron Technology Inc.`s proposed $680 million deal to acquire Lexar Media Inc., according to the New York Post.

The investors, which own half of Lexar’s stock, hope to put a bigger price tag on Lexar (Fremont, Calif.), according to the report.

“Lexar, according to the agitators, made a quick deal with Micron without fully considering competing offers from other bidders,” according to the report. “The shareholder pressure could still force the company to consider offers from Micron rivals, including Hynix Semiconductor, Toshiba Corp. and Samsung Electronics.”

Icahn earned his reputation as a corporate raider after his hostile takeover of TWA in 1985. Icahn is a director of Blockbuster Inc. and the chairman of American Real Estate Partners LP, XO Communications Inc. and American Railcar.

Also he is a beneficial owner of Adventrx Pharmaceuticals Inc, Hollywood Entertainment, National Energy Group Inc., Vector Group Ltd. and has significant holdings in Time Warner Inc. He has casino interests in Las Vegas.