Business

Lexmark sale to Chinese consortium approved by U.S. government agency

Lexmark, formerly IBM, plant site at New Circle Rd. and Newtown Pike, Aug. 26, 1993.
Lexmark, formerly IBM, plant site at New Circle Rd. and Newtown Pike, Aug. 26, 1993. Herald-Leader

Lexmark stock surged Friday after news that the company’s sale to the Chinese consortium led by APEX Technology and PAG Asia Capital cleared its United States government hurdle.

Lexmark stock closed at $39.96 Friday, up $4.83, or 13.75 percent a share. The stock’s 52-week low had been $24.11.

The Committee on Foreign Investment in the U.S. approved the acquisition.

The deal still has to receive approval from the Chinese government, but that is anticipated by the end of 2016, according to the release from the U.S. Securities and Exchange Commission.

The $3.6 billion all-cash transaction was announced in April.

Cheryl Truman: 859-231-3202, @CherylTruman.

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