Green light for Lenovo's IBM server acquisition
Updated: 2014-08-16 17:10
By Gao Yuan(chinadaily.com.cn)
The United States government appears to have approved Lenovo Group Ltd's $2.3 billion buyout of IBM Corp's x86 server unit.
IBM said on Saturday it had received a notice from the Committee on Foreign Investment in the US that the deal had passed review.
"The clearance of this transaction is good news for both IBM and Lenovo," Big Blue said. "The parties now look forward to closing the transaction".
Lenovo is yet to respond. Company CEO Yang Yuanqing said earlier that the deal was on track to be closed by the end of this year. Chinese regulators gave the go ahead earlier this year.
The Chinese personal computer maker's $2.9 billion acquisition of Motorola Mobility is also progressing. China is the last major market to approve the deal, according to a person familiar with the matter.