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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.
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