Lexmark to Be Sold for Enterprise Value of $3.6 Billion, or $40.50/Share -- Update
April 19 2016 - 7:35PM
Dow Jones News
By Josh Beckerman
Lexmark International Inc. has struck a deal to be sold to
buyers including China-based Apex Technology Co. and Asia-focused
PAG Asia Capital, in a transaction with an enterprise value of
about $3.6 billion.
The Wall Street Journal reported in October that the maker of
printers, enterprise software and hardware was exploring
alternatives including a possible sale.
Chinese buyers have been active in overseas deal activity this
year, a trend analysts have attributed to factors including a
slowing Chinese company and a weakening yuan.
Technology distributor Ingram Micro Inc. agreed to a $6 billion
offer from a unit of Chinese conglomerate HNA Group, while China
National Chemical Corp. reached a $43 billion deal for Swiss
agriculture firm Syngenta AG.
Lexmark shares were up 12% in late trading to $38.97. The deal
is worth $40.50 a share.
The consortium also includes Legend Capital, the venture-capital
arm of China-based Legend Holdings.
Apex makes inkjet and laser cartridge components.
PAG Asia Capital is the private-equity business of PAG, an
investment firm that also has real estate and absolute return
strategies.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 19, 2016 19:20 ET (23:20 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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