- 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.
at MarketWatch.com (Oct 21, 2014)