Report: China-Based Apex Technology Eyeing Acquisition Of Lexmark

Reuters reported on Thursday that China-based Apex Technology is eyeing an acquisition of Lexmark International Inc LXK. Apex Technology is a manufacturer of ink cartridge chips, making an acquisition a natural fit. However, Reuters noted that while Lexmark may view a sale of itself to be promising, the U.S.-based company needs assurances that Apex can close the deal. Lexmark announced last year it plans on exploring strategic alternatives, including a potential sale of itself Reuters added that Apex is already working with a U.S. investment bank and has financial backing of local banks to secure financing. Apex Technology's executives are due to visit Lexmark's offices in the coming week to work on a deal. Shares of Lexmark were trading higher by nearly 3 percent late Thursday afternoon.