| In December 2004, LENOVO which takes up a big part in china'sPC market declared that he will acquire IBM PCD with 1.25 billiondollars (cash + stocks), and then the new LENOVO will be the thirdbiggest PC manufacturer all over the world, and also IBM will be thesecond biggest stockholder. As one of the biggest country-ownedconglomerate, who made such an unprecedented financial decision,giving us an opportunity to deeply analyze its financial strategy. So thisarticle is to analyze whether the acquisition price is reasonable from thefinancial viewpoint, all the analysis are based on opened financialstatement and declaration. |
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