21 April, 2016
Skadden is advising Apex Technology Co., Ltd., a Chinese technology company listed on the Shenzhen Stock Exchange, on its acquisition of Lexmark International Inc. (NYSE: LXK), a global leader in imaging and output solutions, for US$40.5 per share, with an enterprise value of US$4 billion. The deal was announced on April 19, 2016.
Apex led a consortium consisting of Apex, PAG Asia Capital (the private equity buyout arm of PAG, one of Asia's largest private equity firms), and Legend Capital Management Co., Ltd. (Lenovo's private equity arm).
The Skadden team is from eight Skadden offices, and includes Greg Miao, Michael Gisser, Flora Lu, Yiming Liu and Richard Han, M&A (Shanghai, Hong Kong, Palo Alto); Kristine Dunn, Michael Zeidel, Nicholas Dumas, Karlis Kirsis and Clive Rough, financing (Los Angeles, New York, Hong Kong); Ivan Schlager and John Kabealo, CFIUS (Washington, D.C.); Jim Brelsford, Ken Kumayama and Pramode Chiruvolu, IP (Palo Alto); Fred Depoortere, Ken Schwartz, Andrew Foster and Julia Zhu, antitrust (Brussels, New York, Hong Kong, Beijing); Joseph Yaffe, Kristin Davis and Michael Wiesner, executive compensation & benefits (Palo Alto); Sean Shimamoto and Da Su, tax (Palo Alto); and Karen Corman, Anne Villanueva, Stein Stephanie and Nicholas Cullen, labor and employment (Los Angeles, Palo Alto).
The transaction is subject to CFIUS and antitrust clearance in multiple jurisdictions.
