China's Lenovo in talks about an acquisition

Tags: Lenovo, Companies
China's Lenovo Group Ltd 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) 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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture