Apex: Financing an Acquisition
商品編號：9B18N016
出版日期：2018/09/18
再版日期：
商品來源：
商品主題：Entrepreneurship; Finance; International Business
商品類型：Case (Pub Mat)
涵蓋議題：Lexmark, financing, acquisition
難易度：4 - Undergraduate/MBA
內容長度：10 頁
地域：China
產業：Finance and Insurance
事件年度：2016
On April 20, 2016, printer and ink maker Lexmark International, Inc. (Lexmark) announced that it was being acquired and taken private by a consortium comprising China-based computer hardware company Apex Technology Co., Ltd. (Apex), as well as private equity firms PAG Asia Capital (PAG) and Legend Capital (Legend). On the same day, Apex formally announced its acquisition of Lexmark for the Chinese capital market. The announcement caused a huge sensation because Apex was a small company compared to Lexmark; Lexmark completed 2015 with US$3.6 billion in revenue—approximately 10 times the revenue of Apex. To raise enough money to pay for the acquisition, Apex had established the consortium with PAG and Legend, and borrowed a large sum of money from its controlling shareholder and banks. Although Apex had ultimately raised enough money to complete the acquisition, its satisfaction over this success soon gave way to pressing questions about financing. In order to dispel the doubts of regulators and the market, Apex needed to decide whether it should adjust its financing plan for the acquisition, and if so, how.
教學手冊：Apex Technology Co. Ltd.: Financing an Acquisition - Teaching Note
補充材料：