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Stock Market & Financial Investment News

News Breaks
August 5, 2014
07:35 EDTLXKLexmark increases 11% cash tender offer price for ReadSoft
Lexmark International announced that it has increased its cash tender offer price for all of the outstanding shares of Sweden-based ReadSoft. This cash offer is Swedish Krona 55.50, an 11% increase from Lexmark's July 14, offer of SEK 50.00 for each Class A and Class B share of ReadSoft, for a price of approximately $248M, net of cash acquired. Pursuant to a Transaction Agreement with Lexmark, ReadSoft's Board of Directors has agreed to continue to recommend in favor of Lexmark's revised tender offer. In addition, the undertaking by ReadSoft's two largest shareholders to tender their shares to Lexmark extends to Lexmark's revised tender offer. The offer period for ReadSoft shareholders to tender their shares will begin on or about Aug. 7 and run to Aug. 28 unless otherwise extended. Settlement of the tender offer is expected to occur around Sept. 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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