China's Lenovo says in talks about an acquisition
HONG KONG (Reuters) - China's Lenovo Group Ltd (0992.HK) said it was in preliminary negotiations with a third party in relation to a potential acquisition but added that no material terms have been agreed.
Lenovo, the world's number one manufacturer of PCs, has resumed discussions to buy International Business Machines Corp's (IBM) (IBM.N) low-end server unit, a source familiar with the matter told Reuters.
"The company has not entered into any definitive agreement in relation to the potential acquisition," Chief Executive Officer Yang Yuanqing said in a filing to the Hong Kong bourse early on Tuesday.
Lenovo said it made the statement in response to reports regarding a possible acquisition by the company of a certain computer server business. It gave no further details.
Lenovo and IBM were in discussions to buy the division last year, but no deal was made as they couldn't agree on a price, sources have said.
(Reporting by Donny Kwok; Editing by Edwina Gibbs)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Comedian Joan Rivers remains in serious condition at N.Y. hospital
- Exclusive: Reliance plans $13 billion projects including new refinery
- Ukraine seeks to join NATO; defiant Putin compares Kiev to Nazis
- Swedish carrier backs out as first Bombardier CSeries operator
India's economy grew by a faster-than-expected 5.7 percent in the three months through June, its fastest pace in two-and-a- half years, helped by a rebound in manufacturing and mining sectors, government data showed on Friday. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article
In race for bigger margins, drug makers willing to lose the India "advantage". Full Article