Lexmark (LXK) Gets CFIUS Approval for Apex Tech Deal
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - September 30, 2016 7:25 AM EDT)
Lexmark (NYSE: LXK) disclosed CFIUS approval for the Apex deal in an U.S. SEC filing on Friday:
Item 8.01 Other Events.
In connection with the pending acquisition of Lexmark International, Inc., a Delaware corporation (the “Company”), by a consortium of investors led by Apex Technology Co., Ltd. and PAG Asia Capital (the “Consortium”), the parties filed a joint voluntary notice under Section 721 of the Defense Production Act of 1950, as amended (“DPA”), with the Committee on Foreign Investment in the United States (“CFIUS”) that was accepted on July 15, 2016.
CFIUS conducted a statutorily mandated 30 day review, and an additional 45 day investigation, of the transaction. During the review and investigation, the Company and the Consortium provided CFIUS extensive information relating to the transaction and their respective businesses and operations. Following the review and investigation, CFIUS found that there are no unresolved national security issues associated with the Consortium’s proposed acquisition of the Company.
The Company and the Consortium today announced that they have received clearance from CFIUS to proceed with the proposed transaction.
As a precondition to CFIUS clearance of the transaction, CFIUS required that the Company and the Consortium enter into a National Security Agreement with the Departments of Defense and Homeland Security.
The merger remains subject to approval from China’s State Administration of Foreign Exchange (SAFE) and other customary closing conditions. The parties continue to expect the transaction to close in 2016.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Herbalife (HLF) Provides Q4, FY17 Guidance in Memorandum for $1.325B Credit Facility; Lowers FY17 Sales Guidance
- Perma-Fix (PESI) Names S. Robert Cochran to Board of Directors
- FTC not sold on Walgreens' plan to win nod for Rite Aid deal: Bloomberg
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Litigation, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!