Select Page

Legend Capital Management Co., Ltd. is also a member of the consortium. Lexmark creates enterprise software, hardware and services that remove the inefficiencies of information silos and disconnected processes, connecting people to the information they need at the moment they need it. The transaction has been unanimously approved by Lexmark’s board of directors and represents a 30 percent premium to Lexmark’s closing stock price on Oct. 21, 2015, the date prior to the news of Lexmark’s exploration of strategic alternatives becoming public. “This is an exciting transaction that Lexmark’s Board of Directors believes is in the best interests of our shareholders following an exhaustive strategic alternatives review process to maximize value,” said Lexmark chairman and CEO Paul Rooke, who is expected to continue to lead the company after the deal closes. “Lexmark is a recognized global leader in printing technology and enterprise software, with a proven track record of performance, a consistent annuity-based business model and a talented workforce,” said Weijian Shan, group chairman and CEO of PAG. “We look forward to working with Lexmark’s management team and focusing on expanding the business in the Asia Pacific region.” “Lexmark’s passion for excellence and unwavering commitments to customers, employees and communities represent a tremendous cultural fit,” said Jackson Wang, Apex Technology chairman. “We are excited to work alongside Lexmark as it continues to invest in advanced technologies and solutions to best serve its customers and business partners while simultaneously pursuing additional untapped opportunities for future growth.” Lexmark’s corporate headquarters will remain in Lexington, Ky, and the company’s common stock will cease to be publicly traded. The merger, which is expected to close in the second half of 2016, is subject to approval by Lexmark shareholders, regulatory approvals in the U.S., China and certain other foreign jurisdictions, and other customary closing conditions. Goldman, Sachs & Co. is acting as the exclusive financial advisor to Lexmark, and Wachtell, Lipton, Rosen & Katz is acting as Lexmark’s legal counsel. Moelis & Company is acting as financial advisor to the consortium, along with Skadden, Arps, Slate, Meagher & Flom and King & Wood Mallesons as legal counsel. Apex Technology Co., Ltd. designs, manufactures, and markets inkjet and laser cartridge components for remanufacturers and distributors and is the largest manufacturer and solution provider for the global aftermarket imaging supplies channel. The company was founded in 2004 and is headquartered in Zhuhai, Guangdong, China. Apex is listed on the Shenzhen Stock Exchange (002180). Zhuhai Seine Technology Co., Ltd., is the largest shareholder of Apex holding approximately 70% of the voting shares of Apex. Apex shareholders also control Pantum International, China’s first printer and printing solutions provider. PAG Asia Capital is the private equity buyout arm of PAG, one of Asia’s largest private equity firms with funds under management across private equity, real estate and absolute return strategies. Founded in 2002, PAG currently has US$15 billion in capital under management, with 380 staff across Asia. Legend Capital , formerly known as Lenovo Capital, is the venture capital arm of Legend Holdings (SEHK:3396), whose founder and chairman is Liu Chuanzhi, the founder of Lenovo, the largest computer maker in the world. Legend is one of the largest diversified holding corporations in China, and has been a shareholder of Seine since 2007. Legend Capital focuses on China-related innovation and growth opportunities, and has been investing in the technology sector for the past 15 years.]]>