Photizo: Lexmark Pends Acquisition

An unsolicited letter sent to Photizo Group stated that executive officers of Lexmark and the Board of Directors are preparing to sell Lexmark to Konica Minolta.

Details of the pending acquisition provided in the letter, including:

• Lexmark will announce its “largest and most significant” product launch in the company’s history on January 28, 2016;

• This launch will position the firm to terminate many of its R&D staff;

• Konica Minolta is most interested in acquiring hardware product line to complete gaps in its own product offering;

• Konica Minolta has no desire to take ownership of Enterprise Software; and

• Konica Minolta is likely to streamline its operations (and headcount) in the coming 3-5 years.

According to Photizo Group, the two-page letter is quite inflammatory. Corporate executives stated that their official position is not to “comment on rumor or speculation”, and that “Lexmark is exploring strategic alternatives”.

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