Lexmark ups offer price for ReadSoft following rival bid

Lexmark (LXK) is now offering SEK43.00/share for Swedish document management software firm ReadSoft (RDSFF), a 7.4% increase from its original offer. The revised tender offer price values ReadSoft at $194M net of cash.

Lexmark's move comes after private Hyland Software made a SEK42.86/share bid for ReadSoft. Lexmark says ReadSoft's board continues to back its bid, and that it also has the support of ReadSoft's two biggest shareholders.

With ReadSoft shares having closed at SEK45.00 today in Stockholm (up 12.8%), investors are betting on a bidding war.

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