Actionable news
All posts from Actionable news

Apex Technology and PAG Lead Acquisition of Lexmark

HONG KONG, April 19, 2016 /PRNewswire/ -- A consortium led by Apex Technology Co. Ltd. and PAG Asia Capital and including Legend Capital Management Co. Ltd. announced today a definitive merger agreement with global printing and imaging solutions provider Lexmark International.

The Consortium has agreed to acquire Lexmark for US$40.5 per share in an all-cash transaction with an enterprise value (including unfunded pension liabilities and disclosed restructuring costs) of approximately US$4 billion.

Lexmark is a world renowned leader in printing, imaging and data solutions. The agreement will enable Lexmark to continue to focus on strategic initiatives it has embarked upon while substantially expanding its access to vast market opportunities in Asia.

"We are very excited for this strategic union between Lexmark and Apex. We believe it is most compelling as the two businesses are highly complementary to each other. Lexmark's passion for excellence and unwavering commitments to customers, employees and communities represent a tremendous cultural fit for us," said Jackson Wang, Apex Chairman. "Apex has traditionally been successful in emerging markets and in cost-effective production. We are excited to work alongside Lexmark as they continue to invest in advanced technologies and solutions to best serve their customers and business partners, while simultaneously pursuing untapped opportunities in emerging markets particularly in Asia for future growth."

"We are happy...