Thursday 17 October 2019
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Lexmark in the Chinese fold   20 April 2016   


The transfer window continues in the world of office printing!  After Sharp has become Taiwanese, now Lexmark International has been bought by a consortium from China.
 
The American manufacturer has accepted the 3.17 billion euros, 3.6 billion dollars offered by a Chinese consortium led by Apex Technology which includes PAG Asia Capital and Legend Capital Management.  Apex Technology makes print cartridges and circuit boards for print cartridges.  The transaction is expected to be sealed in the second half of 2016 after approval by shareholders and relevant regulators.
 
when the takeover was announced, Lexmark shares jumped 12% to 38.84 dollars.  The various shareholders will receive 40.50 dollars per share, a premium of 16.8% over the closing price on Tuesday.
 
According to the press release, this acquisition is the conclusion of a strategy announced by Lexmark in October intended to "maximize shareholder value".  The manufacturer has also claimed that this transaction will cause "no disruption" to its activities.  The company will maintain its headquarters in the US and Paul Rooke remain at the head of it.  The company continues to invest after acquiring Kofax last year for a billion dollars, and continues to grow in the office market.




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