Lenovo says rumoured report that it plans stake acquisition in Marvell Technology is not true
Lenovo [HKG: 992], the Chinese PC maker, says the rumoured report that it plans to acquire a stake in Marvell Technology [NASDAQ: MRVL], a Bermuda-based Nasdaq-listed semiconductor products company, is not true, the online edition of Hong Kong Economic Times reported. The Chinese language news report, citing chairman Yang Yuanqing, said Lenovo has no sizable acquisition plan in place for now following its earlier acquisition of Motorola as it needs time to digest the newly acquired business. He added that the market report that Lenovo plans to acquire Marvell Technology is not true.
A market report has emerged that Lenovo plans to acquire a stake in Marvell Technology at USD 19 per share in a deal that could exceed USD 9.7bn.
Hong Kong Economic Times