Lenovo Group Ltd. and IBM Corp. are asking a US foreign investment panel for more time to review the Beijing-based company’s planned purchase of IBM’s low-end server unit, Bloomberg reported Wednesday, citing a person familiar with the matter.
The companies resubmitted the sale for review by the Committee on Foreign Investment in the United States, giving regulators more time to examine the deal, the report said. It also gives Lenovo and IBM more time to win over the panel.
Timothy Keeler, a lawyer with Mayer Brown LLP in Washington, was quoted as saying that restarting the review could indicate the companies are working toward an agreement with the committee to address security concerns.
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