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Stock Market & Financial Investment News

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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.
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