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Stock Market & Financial Investment News

News Breaks
May 6, 2014
06:14 EDTLXKLexmark commences tender offer for all outstanding shares of ReadSoft
Lexmark announced the commencement of a cash tender offer for all of the outstanding shares of Sweden-based ReadSoft. The offer is $6.11 in cash for each Series A and Series B share of ReadSoft for a price of approximately $182M, net of cash acquired. ReadSoft's board has unanimously recommended in favor of Lexmark's tender offer, and it is also supported by ReadSoft's two largest shareholders. Upon successful completion of the tender offer, ReadSoft will be combined with Lexmark's Perceptive Software. With the addition of ReadSoft, Perceptive Software will significantly grow its software presence with additional document process automation capabilities and the expansion of its footprint in Europe. ReadSoft's technology and market presence will also complement Lexmark's Perceptive Software, strengthening its position as a leading provider of intelligent data capture software solutions for back office processes. The tender offer is expected to close in Q2.
News For LXK From The Last 14 Days
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October 21, 2014
06:36 EDTLXKLexmark raises FY14 adjusted EPS view to $4.05-$4.15 from $3.95-$4.15
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06:34 EDTLXKLexmark sees Q4 adjusted EPS $1.10-$1.20, consensus $1.18
Sees Q4 revenue down 2%-4%. The company expects the 2012 decision to exit inkjet to have a diminishing negative impact on revenue growth. Excluding Inkjet Exit revenue, Q4 revenue is expected to grow year to year.
06:33 EDTLXKLexmark reports Q3 adjusted EPS $1.05, consensus 92c
Reports Q3 revenue $918.1M, consensus $889.62M. Paul Rooke, Lexmark chairman and CEO, said, "In Q3, Managed Print Services and Perceptive Software combined revenue grew 20%, representing nearly one third of Lexmark's total revenue, and is on track to exceed $1B this year. The acquisition of ReadSoft further broadens Lexmark's solutions capabilities and reach, and supports our target of generating Perceptive Software revenue of $500M in 2016"

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