US panel clears security review of Lenovo-IBM deal

WASHINGTON - A US government panel has cleared the deal for China's Lenovo to acquire the personal computer operations of IBM, the companies announced Wednesday.
A joint statement from the firms said the Committee on Foreign Investment in the United States (CFIUS), an interagency panel which can block mergers for national security reasons, had cleared the deal.
"Lenovo is committed to being a great corporate citizen," said Steve Ward, an IBM senior vice president who will serve as chief executive officer of Lenovo.
"The new Lenovo will be an innovative, international PC company, delivering the best PCs in the industry. With the review by the US government complete, IBM and Lenovo are moving quickly to integrate the two companies and expect to finalize the transaction in the second quarter, as planned."

03/09/2005 13:47 GMT