Lexmark International, Inc. said that its board of directors has authorized the exploration of strategic alternatives to enhance shareholder value.
The board believes that Lexmark has created value through its actions to transform the company and believes that a full review of strategic alternatives, beyond the operational and financial actions the company has taken to date, is the next step to unlocking the intrinsic value created by the company.
Lexmark has built a USD3.7 billion global technology company that includes a USD1.5 billion Higher Value Solutions business comprised of Enterprise Software and Managed Print Services.
The board has formed a committee of independent directors to assist in the exploration of strategic alternatives.
Assisting the board in the evaluation process are financial adviser Goldman, Sachs & Co., transaction and advisory services firm Ernst & Young LLP, and the law firm of Wachtell, Lipton, Rosen & Katz.
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.
Lexmark (NYSE: LXK) creates enterprise software, hardware and services that remove the inefficiencies of information silos and disconnected processes, connecting people to the information they need at the moment they need it.