Lenovo Gets IBM Unit For $2.3B In 2nd Stab At Deal

Law360, New York (January 23, 2014, 11:23 AM EST) -- In its second try for a deal, New York-based IBM Corp. on Thursday agreed to sell its low-end server unit to Chinese computer maker Lenovo Group Ltd. for $2.3 billion, well below its original asking price, signaling ongoing woes for the PC market.

Confirmation of the deal comes after speculation kicked up this week that the companies were nearing an agreement, setting the stage for one of the biggest deals to hit China's information technology sector. Under the transaction's terms, Lenovo said it will fork over...
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