UPDATE: Lenovo Confirms In Talks With Major IT Company
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HONG KONG (Dow Jones)--Lenovo Group Ltd. (0992.HK), China&#39;s largest computer company, confirmed it is in acquisition talks with a major international information technology company.
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China&#39;s biggest computer maker said it is in acquisition talks with a major international technology company, a disclosure that comes amid reports it might buy IBM&#39;s personal computer business.
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Shares in Lenovo Group resumed trading on Wednesday, after being temporarily suspended due to theÂ sale of 300 million shares by IBM, the PC company's second-largest shareholder.
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Lenovo Computers, Chinaâs largest computer maker, said it is in acquisition talks with a major technology company - at the same time that IBM says it is in talks with a major Chinese player to sell its PC making business.
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Although virtually unknown in the United States, Lenovo--said to be in talks to buy IBM&#39;s personal computer business--is China&#39;s largest PC maker and the world&#39;s fastest-growing one.
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IBM will sell its once vaunted personal computer business to Lenovo Group Ltd., the leading computer maker in China.-The Washington Post
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The agreement between Lenovo, the worldâs third-largest PC maker, and Microsoft replaces a similar deal the Chinese computer maker had with Google.
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Lenovo, China&#39;s largest personal computer maker, will pay US$1.75 billion (HK$13.65 billion) in cash, stock and assumed debt for IBM&#39;s struggling PC operations in a move that will make it the world&#39;s third-biggest PC manufacturer and fulfil its long-held
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Lenovo Group Ltd. agreed to pay $1.25 billion for International Business Machines Corp.&#39;s personal computer business, lifting China&#39;s largest PC maker to third in world rankings and giving it a globally recognized brand.
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HONG KONG/SAN FRANCISCO  - China's largest  personal computer maker, Lenovo Group Ltd., said on Tuesday it  was in acquisition talks with a major technology company, which  a source familiar with the situation said was IBM.
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Itâs competition time for PC makers, and good news for price-sensitive consumers. Thatâs how industry gurus are assessing the scenario, after last weekâs sensational announcement of the deal between Chinese PC maker Lenovo Group and US-based IBM.
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In a highly anticipated announcement, IBM (Quote, Chart) confirmed late Tuesday it is selling its PC division to China&#39;s Lenovo Group.
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Word that IBM is mulling a move to sell its desktop and notebook PC business to China-based Lenovo Group had executives at most of Big Blue&#39;s vendor competitors scurrying to stay out of the limelight until more details of the deal--and final word on
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IBM has reached an agreement in principle to sell its personal computer business to Lenovo, China&#39;s largest PC maker, in a deal valued at between $1 billion and $2 billion, people close to the negotiations said Monday.
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Following days of rumors, IBM late Tuesday made it official: the company said it was spinning off its personal computer business with the Lenovo Group, China&#39;s biggest maker of personal computers.
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China&#39;s biggest computer maker says it is in acquisition talks with a major information technology company following a newspaper report that it might buy IBM&#39;s personal computer business.
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China's Lenovo Group Ltd. has agreed to acquire IBM's personal computing division for $1.25 billion in cash and equity, a move expected to transform it into the world's No. 3 PC maker.