Lexmark hikes ReadSoft offer by 16%

|About: Lexmark International, Inc. (LXK)|By:, SA News Editor

Lexmark (LXK +0.7%) is now offering SEK50/share for ReadSoft (OTCMKTS:RDSFF), 16% more than a prior offer of SEK43/share and 11% above Hyland Software's recent SEK45/share bid.

The new bid values ReadSoft at $224M exc. net cash. Lexmark says it still has the support of ReadSoft's founders, who own 23% of the company and 43% of its voting rights, and that it has taken a 5.3% stake on its own. Hyland has disclosed taking a 10.9% stake.

A new tender offer period runs through Aug. 28. ReadSoft shares have soared to SEK50.75 in Stockholm, as investors bet the bidding war for the document management software company continues.