Chinese computer maker Lenovo announced it will purchase a 37 percent stake in German computer maker Medion:
Lenovo, one of the biggest computer makers in the world, has announced that it offered to purchase German computer maker Medion AG. The deal is valued at $672 million reports WRAL and is the largest purchase Lenovo has made since it acquired IBM's PC business years ago.
Lenovo is buying a 37% stake from the chairman of Medion for 231 million Euros amounting to 13 euro per share and will extend the same offer to the remaining shareholders. The price that Lenovo has offered is 18% higher than the last closing price of the company stock.