- Lexmark International, Inc. and Kofax Limited announced that the applicable waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 has expired with respect to Lexmark's proposed acquisition of Kofax via merger.
- The German Federal Cartel Office has also granted approval of the merger.
- As previously announced on March 24, 2015, Lexmark and Kofax entered into a definitive agreement pursuant to which Lexmark would acquire Kofax in a cash transaction for $11.00 per share.
- The expiration of the HSR waiting period and the approval by the German Federal Cartel Office satisfy two of the conditions to close the proposed acquisition. The proposed acquisition remains subject to certain other conditions, including the absence of a material adverse change in Kofax's business and the adoption of the merger agreement by the Kofax shareholders.
- The shareholders of Kofax are scheduled to vote to approve the merger on May 18, 2015, and, assuming shareholder approval, the transaction is expected to close on or around May 21, 2015.
