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Article: Lenovo-Positivo Deal Off.
- Article from:
- Linux Gram
- Article date:
- December 22, 2009
CopyrightCOPYRIGHT 2009 G2 Computer Intelligence. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The possibility of Lenovo acquiring Brazil's biggest PC maker Positivo Informatica SA has come naught.
Lenovo told Reuters that the companies "agree that given the current economic turmoil and uncertainties, it is not feasible to reach an agreement on a transaction at this time."
The statement suggests Positivo balked at the valuation. Its shares are down 80% this year to a market cap of ~$420 million.
The wire service was also told the pair is "exploring a broad strategic alliance that would create long-term shareholder value for both companies."
The Brazilian media has also had Dell bidding for Positivo, which is supposed to own ...