The sale of Lexmark to a consortium of Chinese investors led by Apex Technology Co. and PAG Asia Capital passed a regulatory hurdle today, as the Committee on Foreign Investment in the United States gave its clearance for the transaction to proceed.
Following a mandated 30-day review and 45-day investigation of the transaction, the CFIUS found no unresolved national security issues associated with the proposed acquisition, according to a September 30 filing with the U.S. Securities and Exchange Commission.
The $3.6 billion sale of the Lexington-based company, which would equate to roughly $40.50 per share, was initially announced in April.
The merger remains subject to approval from China’s State Administration of Foreign Exchange. The transaction is expected to close in 2016.