Report: IBM PC Deal Close
A deal with China's Lenovo could be announced Tuesday.
IBM
(IBM) - Get Report
is reportedly on the verge of a deal to sell a majority interest in its PC business to Lenovo Group, China's top PC company.
Lenovo is expected to pay about $2 billion, according to a Tuesday report in
The Wall Street Journal.
A deal could be announced as soon as Tuesday.
The possibility of a deal was first reported last Friday by
The New York Times
.
For some time now, IBM has been focusing on computer services and the business end of the market and is a distant No. 3 to PC industry leader
Dell
(DELL) - Get Report
.
Hewlett-Packard
(HPQ) - Get Report
is the other remaining major player.
IBM shares rose $1.94, or 2%, to $97.70 in premarket trading.
