China’s Apex Technology in bid to buy Lexmark: Sources
Apex Technology Co Ltd, a Chinese company that manufactures ink cartridge chips, is in negotiations to acquire U.S. printer and imaging systems provider Lexmark International Inc, according to people familiar with the matter.
The potential deal with Apex represents an opportunity for Lexmark to sell itself as a whole, after an earlier auction did not produce satisfactory offers. Lexmark has also been exploring selling its software and hardware assets separately.
While Lexmark sees Apex’s approach as promising, it needs assurances that the Chinese company will be able to close the deal, the people said this week. Apex’s executives are due to visit their counterparts at Lexmark in the United States this month to try to reach an agreement, one of the people added.
Apex is working with a U.S. investment bank and already has the backing of some Chinese banks, the people said, cautioning there was no certainty that a deal with Lexmark would materialize. Read more