Lexington-based printing and enterprise software company Lexmark International is exploring what it calls “strategic alternatives” to increase value for shareholders. Some media outlets are speculating that one option could include putting the company up for sale.
The Wall Street Journal reports the company, which has been transitioning away from the highly competitive printing business and toward software and management services, is putting a number of options on the table as they seek to bolster their share price.
But for now, mum’s the word. Lexmark spokesman Jerry Grasso tells WUKY the company isn’t interested in adding grist to the rumor mill.
"We aren't specifying it because we don't want to look as if we're only limiting ourselves to some options or some other options," he says. "So at this point there have been a couple stories out in the media of what that might mean, but we're going to leave it at 'strategic alternatives.'"
Lexmark has gobbled up a number of acquisitions in recent years as it looks to alter course - including software maker Kofax Ltd., along with ReadSoft and Perceptive Software - but shares are currently down about 20 percent year-to-date.
Grasso says company leaders aren’t putting a timeline on the discussions.
