Apex technology and PAG Asia capital led a consortium to acquire the legendary Lexington, KY hardware company, in a deal valued at $3.6 billion. Shareholders will enjoy a 15% or so premium tomorrow, as the deal was agreed upon at $40.50 in an all cash deal.
“This is an exciting transaction that Lexmark’s board of directors believes is in the best interests of our shareholders,” Lexmark Chairman and Chief Executive Officer Paul Rooke said in the statement. “The transaction will benefit our customers and provide new opportunities for our employees.”
Aside from the mundane printer, Lexmark specializes in a wide swath of security applications for the U.S. govt and justice system, including court case management, health benefits exchange software, public assistance, application automation, professional licensing boards, public safety, law enforcement as well as the DMV.
Big win for the dog eaters in Beijing.
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So a Chinese company bought out a company that supplies US government and judiciary security software? Can someone say loopholed spying… Crafty move by the Far East
Governor Trumpero would never tolerate this shit.
I don’t understand. Why do you sell your company to the Chinese for a 15% shot in the arm? Does anyone have pride anymore?