Lexmark sold for $3.6bn

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Lexmark has been sold to an Asian consortium for $3.6bn.

China's Apex Technology and Legend Capital, along with Hong Kong-based PAG Asia Capital will pay $40.50 per share to acquire Lexmark and form a consortium. Lexmark will continue to operate out of US headquarters in Kentucky. It has about 12,000 employees and was spawned from IBM in the 1990s.

Lexmark, now an enterprise IT specialist, said the deal would allow it to expand its operations into the Asia market and provide it with more financial backing.

The transaction is expected to close in the second half of this year. ®

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