Lexmark to explore strategic alternatives

LEXINGTON, Ky. (WTVQ) – Lexington company, Lexmark International, Inc., announced Friday that they are exploring strategic alternatives to enhance shareholder value, including the possibility of selling the company.

Lexmark has built a $3.7 billion global technology company, according to the release, but the company doesn’t believe their stock price accurately reflect this.

Lexmark says the Board has formed a committee of independent directors to assist in the exploration of strategic alternatives.

“We are extremely proud of what the Lexmark management team and employees have accomplished in the transformation of Lexmark,” said Jean-Paul Montupet, lead director of the Lexmark Board of Directors. “While the Board is encouraged by the company’s future prospects, the Board does not believe Lexmark’s current share price fully reflects the intrinsic value created by the company, and the Board has concluded it is appropriate to explore strategic alternatives as the next step to unlock this value.”

No decision has been made with regard to any alternatives, and there is no assurance that the Board’s exploration of strategic alternatives will result in any transaction being entered into or consummated, the release said.

“As the Board undertakes this exploration process, Lexmark is focused on the execution of our strategy and remains fully committed to our customers, partners, suppliers and employees, and to delivering strong financial results,” says Paul Rooke, Lexmark’s chairman and chief executive officer.