Lexmark International Inc. shareholders approved Friday the merger agreement under which Lexmark is being acquired by a consortium of investors led by Apex Technology Co. Ltd. and PAG Asia Capital.
Under completion of the transaction, Lexmark shareholders will receive $40.50 per share in cash, a news release states.
“Today our shareholders approved this definitive merger agreement by an overwhelming margin,” Lexmark chairman and CEO Paul Rooke said in the news release. “This transaction is in the best interests of our shareholders, and we are confident it will benefit our customers, provide new opportunities for our employees, and enable Lexmark to continue to grow, innovate and expand our market presence in the Asia Pacific region.”
Lexmark, a printing and software company headquartered in Lexington, announced in April that it was being sold to a consortium led by Apex for $3.6 billion, including debt.
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The transaction remains subject to certain regulatory approvals and customary closing conditions. The transaction is expected to be completed in the second half of this year, the news release said.
Lexmark has said it intends to keep its company headquarters in Lexington and that Rooke would remain in his current role.