Chinese consortium to buy Lexmark for $3.6 billion

A group led by Chinese company Apex Technology and private equity firm PAG Asia Capital has agreed to pay $3.6 billion for printing and software company Lexmark, including its enterprise software unit based in the Kansas City area.

Lexmark, which has its headquarters in Lexington, Ky., had been exploring potential suitors for some time. The company said this offer represents a 30 percent premium over its closing price Oct. 21, when it became known Lexmark was exploring options. Lexmark also said the deal will allow it to expand in Asia.

The company said its operations in Lenexa, Kan., are expected to continue unaffected. The unit there, formerly Perceptive Software, employs about 500 people.

This deal adds to a recent string of Chinese acquisitions of U.S. companies, including the $3.5 billion purchase of movie studio Legendary Entertainment by Dalian Wanda, the Chinese parent company of Leawood, Kan.-based AMC Entertainment Holdings.

Read more: Kansas City Star, Kansas City Business Journal


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