S&P Places Lexmark's (LXK) Ratings on CreditWatch Developing
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Apex Technology-Led Consortium to Acquire Lexmark (LXK) in ~$3.6B Deal
April 20, 2016 6:31 AM UTCLexmark International, Inc. (NYSE: LXK) announced that it has entered into a definitive merger agreement with a consortium of investors led by Apex Technology Co., Ltd. (Apex) and PAG Asia Capital (PAG), under which Lexmark will be acquired for $40.50 per share in an all-cash transaction with an enterprise value of approximately $3.6 billion, net of cash. Legend Capital Management Co., Ltd. (Legend Capital) is also a member of the Consortium.
The transaction has been unanimously approved by Lexmark's Board of Directors and represents a 30 percent premium to Lexmark's undisturbed... More