Chinese PC manufacturer Lenovo has offered 2bn reais (US$833mn) for the acquisition of Brazil's largest PC maker Positivo Informática (Bovespa: POSI3), newspaper Folha de S Paulo reported, quoting an unrevealed source.
According to the report, Positivo Informática's controllers would be interested in selling the company for at least 3bn reais, down from the previously expected 4.7bn reais due to the high US dollar exchange rate and devaluation of the company's shares from 23.5 reais at end-2006 to 10.45 reais on December 10. US computer giant Dell (Nasdaq: DELL) has also reportedly shown interest in buying the Brazilian company.
In a filing with CVM, Positivo Informática said it was willing to consider any proposals in the market which may be in the best interest of the company and its shareholders. The company added that it has held a long term relationship with investment bank UBS Pactual for advice and coordination of any propositions to be made by third parties.
In a notice to shareholders, Lenovo stated its directors "confirm that the company has certain preliminary discussions with independent third parties regarding potential investment opportunities and acquisitions." However, according to the document, there is no assurance that any definitive agreement will ultimately be reached.
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