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
- Wall St. finally turning on Amazon as Bezos magic fades
- Wall Street finally turning on Amazon as Bezos magic fades
- Two killed, four wounded in Washington state school shooting
- Two dead, four wounded after student opens fire at Washington state school
- Google's Pichai to oversee major products and services
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article