Lexmark shareholders approve merger agreement


Enterprise software, hardware and services corporation Lexmark International, Inc. (NYSE: LXK) has 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.

Paul Rooke, Lexmark chairman and chief executive officer, said:

Today our shareholders approved this definitive merger agreement by an overwhelming margin. 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.”

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Lexmark shareholders approve merger agreement

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