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Stock Market & Financial Investment News

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July 14, 2014
07:35 EDTLXKLexmark increases tender offer price for all outstanding shares of ReadSoft
Lexmark has increased its cash tender offer price for all of the outstanding shares of Sweden-based ReadSoft to Swedish Krona 50.00, a 16% increase from Lexmark's prior offer of SEK 43.00, for each Class A and Class B share of ReadSoft for a price of approximately $224M, net of cash acquired. Lexmark made the decision to increase its tender offer price in response to a competitive offer for ReadSoft shares announced on July 7. This cash offer by Lexmark of SEK 50.00 is 11% higher than the most recent competitive offer. Lexmark has also directly acquired shares in ReadSoft and now owns approximately 5.3% of all outstanding shares in ReadSoft. The new offer period will begin on or about August 7 and run to August 28, unless otherwise extended. Settlement of the tender offer is expected to occur around September 4, after the end of the offer period.
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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