US Government Clears IBM-Lenovo Deal
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A U.S. government national security committee has given the green light to Chinese computer firm Lenovo's proposed purchase of IBM's PC business. Regulators previously voiced concerns over "security issues," but have unanimously approved the $1.75 billion deal. Terms of the approval were not released, but IBM said no compromises were made.
The Committee on Foreign Investments in the United States is a government watchdog that evaluates purchases of US companies made by foreign entities. The go-ahead from CIFUS is the final hurdle Lenovo had to overcome after antitrust regulators approved the IBM deal in January. The transaction is now expected to close in the second quarter.