Apex/Lexmark: US$3.5 Billion, 29% Potential Return

On April 19, 2016, Apex  (SHE:002180) and Lexmark (NYSE:LXK) announced that they had come to an agreement where Lexmark will be acquired for $40.50/share in cash, valuing it at US$3.5 billion

In a world going more and more digital, printers OEM have been struggling for a while with lackluster performance. Take Lexmark for instance: over the last twelve months, operating margin of -3%, return on equity of -9%… you could probably have better metrics opening a lemonade stand for the summer. Therefore, it doesn’t come as a big surprise that the smaller players in the industry are starting to consolidate together in an effort to get more scale and cut costs. Continue reading “Apex/Lexmark: US$3.5 Billion, 29% Potential Return”

Microsoft Swallows LinkedIn

On June 13, 2016, Microsoft (NASDAQ: MSFT) announced that it had reached an agreement with LinkedIn (NASDAQ: LNKD) to acquire it for US$26.2 billion

The deal prices Linkedin at US$196/share, or a premium of ~50% to the share price as of June 10, 2016, the last day before the public announcement. Continue reading “Microsoft Swallows LinkedIn”