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Lenovo restarts talks to buy IBM server unit: source


NEW YORK/HONG KONG (Reuters) – Chinas Lenovo Group Ltd has resumed talks to buy International Business Machines Corps (IBM) low-end server unit, a source familiar with the matter said – a purchase that would bolster its efforts to diversify beyond a shrinking PC market. The two companies failed to reach a deal last year after differing on pricing, with media reports then putting IBMs hopes at between $4 billion to $6 billion for the unit, while Lenovo was said to be only willing to offer $2.5 billion. It declined to name the seller but said it was making the statement in response to reports about its potential acquisition of a server business. Dell Inc, which went private in a $25 billion deal last year, has also been cited in media reports as a potential suitor for the business.

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MONDAY, JUNE 21, 2021

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