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Lenovo is going to acquire IBM’s business

Lenovo Group Ltd. is in serious discussions to acquire International Business Machines Corp. low-end server business, and a deal may be signed within weeks, according to a person with direct knowledge of the matter.

Lenovo, the world’s largest personal-computer maker, has completed due diligence, according to the person, who asked not to be identified because discussions are private. The companies failed to agree last year on a price for the assets, estimated to be worth $2.5 billion to $4.5 billion. The person didn’t have details on the current price or structure of the proposed deal.

http://www.bloomberg.com/news/2014-01-20/lenovo-said-to-be-in-advanced-discussions-for-ibm-server-unit.html