Lenovo Group Ltd. (992), which agreed to buy International Business Machines Corp. (IBM)’s low-end server unit yesterday, beat out prospective bidder Fujitsu Ltd. (6702) because that company would have needed several more weeks to conduct due diligence, a person with knowledge of the negotiations said.
Fujitsu expressed a willingness to pay more than the $2.3 billion Lenovo offered, though it wasn’t yet ready to make a firm bid, said the person, who asked not to be named because the talks...
