Deals
Lenovo Offers to Acquire Medion in Biggest Purchase Since IBM
This article is for subscribers only.
Lenovo Group Ltd., China’s biggest maker of personal computers, offered to buy control of Germany’s Medion AG for 466 million euros ($671 million) in its biggest acquisition since the purchase of International Business Machines Corp.’s PC business more than six years ago.
The Chinese company will acquire a 37 percent stake from Medion Chairman Gerd Brachmann for 13 euros a share via cash and stock, and will extend the cash offer to remaining shareholders, Lenovo said today. Brachmann will keep an 18 percent holding. Medion jumped as much as 20 percent in Frankfurt trading.