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Consortium Buys Lexmark for $3.6 Billion

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An investment consortium led by printer cartridge maker Apex Technology and equity firm PAG Asia Capital agrees to buy Lexmark in an all-cash deal worth $3.6 billion.

Lexmark“This is an exciting transaction that Lexmark’s board of directors believes is in the best interests of our shareholders,” Lexmark CEO Paul Rooke says. “The transaction will benefit our customers and provide new opportunities for our employees.”

Following the deal operations at Lexmark are supposed to remain unaffected, with Rooke continuing his tenure as CEO.

Lexmark has been going through hard times lately due to the shift from printed to digital documents leading to lower demand for its staple printers and printer cartridges. In fact, back in October 2015 the company hired Goldman Sachs to help it "explore strategic alternatives."

Bloomberg reports previous potential buyers wanted to effectively split the company-- private equity firms Thorna Bravo and Vista Equity Partners wanted to buy the Lexmark software division, while the likes of Canon and Ricoh were interested in the hardware division.

Go Lexmark Agrees to be Acquired by Apex Technology and PAG Asia Capital

Go Lexmark to be Bought by Apex, PAG Asia in $3.6bn Deal (Bloomberg)