Lenovo Reportedly Negotiating Purchase of Lexmark

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Channel News reports that, according to unidentified sources, the world’s number-one PC maker, China’s Lenovo, is in talks to purchase Lexmark International.

According to these sources, Lenovo is currently negotiating the purchase with Goldman Sachs, which is representing Lexmark, and with Lexmark management. In the past, Lenovo has purchased several distressed businesses, including IBM’s Think Pad and server businesses, and Motorola.

In October 2015, Lexmark announced that it had hired the investment firm Goldman Sachs to “explore strategic alternatives,” and in the company’s earnings call for third-quarter 2015, Lexmark management said these alternatives could include a possible sale of the entire company or part of it.

In July 2015, Lexmark CEO Paul Rooke said Lexmark would cut 500 positions worldwide, and then last month, the firm announced that it would eliminate another 550 positions.

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