LEXINGTON, Ky., July 22, 2016 /PRNewswire/ — Lexmark International, Inc. today announced that its shareholders have approved the definitive merger agreement under which Lexmark is to be acquired by a consortium of investors led by Apex Technology Co., Ltd. and PAG Asia Capital and including Legend Capital Management Co., Ltd. Upon completion of the transaction, Lexmark shareholders will receive $40.50 per share in cash.
70% of the outstanding Lexmark shares were voted at the special shareholder meeting held today. Of the Lexmark shares that were voted, 99% were voted in favor of the merger.
The transaction remains subject to certain regulatory approvals, including among others the Committee on Foreign Investment in the U.S., and other customary closing conditions.
The transaction is expected to be completed in the second half of 2016.
The company plans to announce second quarter 2016 earnings before the opening of the New York Stock Exchange on Friday, July 29, 2016. The earnings release will be available on Lexmark’s investor relations website at http://investor.lexmark.com. Lexmark will not host a conference call with securities analysts and investors in conjunction with its second quarter 2016 earnings release and does not expect to do so in future quarters while this transaction is pending.
“Today our shareholders approved this definitive merger agreement by an overwhelming margin,” said Paul Rooke, Lexmark chairman and chief executive officer. “This transaction is in the best interests of our shareholders, and we are confident it will benefit our customers, provide new opportunities for our employees, and enable Lexmark to continue to grow, innovate and expand our market presence in the Asia Pacific region.”
Have news to share? We want to help you spread the word. Submit your media releases to email@example.com. Please submit releases in Word or text docs or in the body of an email. Please do NOT send PDF documents.