Lenovo plans to acquire Medion, a German PC and electronics manufacturer, in a move to boost its market share in Western Europe.
The PC maker said today that it will pay 13 euros ($18.75) per share in cash for Medion. Medion closed at 10.97 euros in trading yesterday in Frankfurt. Lenovo cut a separate deal with Gerd Brachmann, CEO of Medion. Brachmann will sell 40 percent of Medion's outstanding shares to Lenovo at 13 euros a share and remain a major shareholder with 20 percent.
For China's Lenovo, the Medion purchase is all about market share. … Read more