Ninestar to sell Lexmark to Xerox at much lower price than previously announced

Reuters

Wed, Mar 26, 2025, 6:57 AM 1 min read

BEIJING (Reuters) - China-based Ninestar Corp plans to merchantability printer and printing bundle shaper Lexmark International II to Xerox successful a woody estimated astatine up to $150 million, a fraction of the terms Xerox disclosed successful December.

Ninestar said successful an speech filing connected Wednesday that it has estimated the transaction terms to scope from $75 cardinal to $150 million, based connected Lexmark's latest operational status.

Xerox said past December it had agreed to bargain Lexmark successful a woody valued astatine $1.5 billion, including assumed liabilities from Ninestar, backstage equity steadfast PAG and Shanghai Shouda Investment Centre, to grow its beingness successful Asian markets.

Reuters could not instantly find wherefore the woody worth Ninestar disclosed is antithetic from Xerox's December announcement.

Formed retired of IBM successful 1991, Lexmark was sold to a radical of Chinese investors successful a $3.6 cardinal woody successful 2016. The woody would bring Lexmark backmost to U.S. ownership.

Xerox had expected the woody to instantly assistance nett and present much than $200 cardinal successful yearly outgo savings, including by helping chopped selling and existent property expenses, the December announcement showed.

(Reporting by Beijing Newsroom and Kane Wu successful Hong Kong; Editing by Tomasz Janowski and Jan Harvey)