Lenovo Reportedly Negotiating Purchase of Lexmark
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.
- February 2016: Slow Quarter for Lexmark; Job Cuts Planned; ‘Positive Interest’ for Possible Sale
- February 2016: Canon, Ricoh May be Seeking to Acquire Lexmark’s Printer/Copier Group
- January 2016: Lexmark Revamps A4 Color Printer/MFP Lineup in a Big Way; Includes New ‘Light Production’ 60-PPM A4 CX860 Copier/MFP
- January 2016: Lexmark Said to Be Considering Separate Sales of Its Printer/Copier and Software Groups
- October 2015: Lexmark Reports Third-Quarter Results; Exploring ‘Strategic Alternatives’; Sale Rumored
- July 2015: Revenue Flat for Lexmark, Announces Restructuring Plan and 500 Job Cuts
- May 2015: Lexmark Completes Kofax Acquisition; Bish is New President of Lexmark Enterprise Software Division
- April 2015: Lower Revenue at Lexmark for First Quarter, But Meets Earnings Forecast