Updated Jan. 24, 2014 at 8:47 a.m.

Premium Lock Lenovo plays hardball over course of a year to land $2.3B deal with IBM

Published: 2014-01-24 07:00:00
Updated: 2014-01-24 08:47:48

Lenovo CFO Wong Wai Ming, left, and CEO Yang Yuanqing Lenovo CFO Wong Wai Ming, left, and CEO Yang Yuanqing.

Lenovo's CEO and CFO tell Bloomberg news that they negotiated with IBM for about a year before agreeing to pay $2.3 billion for segments of Big Blue's server business. At one point the CFO quit talks and flew back to China. In the end, Lenovo secured a bigger part of IBM's business and prevailed in a battle with Fujitsu, which was willing to pay more but needed additional time to review the prospective deal....

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