Apex-Lexmark Merger Approved by Shareholders
Release date:2016-07-15
The merger was approved by shareholders, though it still needs to pass government and regulatory approvals.
Lexmark revealed that the merger, announced earlier this year, had been approved by its shareholders. At a special shareholder meeting held this weekend, 70 percent of the "outstanding Lexmark shares were voted", and of those that did, 99 percent "voted in favor of the merger". Lexmark added however that the merger "remains subject to certain regulatory approvals", such as the Committee on Foreign Investment in the US and "other customary closing conditions".
The merger is expected to be completed in the second half of the year, despite The Recycler reporting earlier this year that Lexmark employees were attempting to block the deal. The OEM had also previously discussed the merger and what it meant, while a host of law firms had started investigations into the deal.
Paul Rooke, Chairman and CEO of Lexmark, commented: "Today our shareholders approved this definitive merger agreement by an overwhelming margin. This transaction is in the best interests of our shareholders, and we are confident it will benefit our customers, provide new opportunities for our employees, and enable Lexmark to continue to grow, innovate and expand our market presence in the Asia Pacific region."
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