Thanks for the correction.
Lenovo did buy-out IBM PC business in 2005. The deal was for US1.7 billion(2005). Under the deal, IBM will took an 18.9 percent stake in Lenovo. Lenovo paid US$1.25 billion for the IBM PC unit and assume debt, which will bring the total cost to US$1.75 billion. Lenovo paid roughly US$650 million in cash and US$600 million in securities.
Lenovo and Dell are both making offers for the remains of HP.
On ownership:(from WikiWacki)
Ownership
As of 1 October 2011, 58% of Lenovo stock was held by the general public, 34% by Legend Holdings Limited, and 8% by other entities. The Chinese Academy of Sciences owns 36% of Legend Holdings.[77]
On 4 September 2009, Oceanwide Holdings Group, a private investment firm based in Beijing, bought 29% of Legend Holdings, the parent company of Lenovo, for 2.76 billion yuan.[78] Responding to claims that Lenovo is a state owned enterprise CEO Yang Yuanqing said: "Our company is a 100% market oriented company. Some people have said we are a state owned enterprise. It's 100% not true. In 1984 the Chinese Academy of Sciences only invested $25,000 in our company. The purpose of the Chinese Academy of Sciences to invest in this company was that they wanted to commercialize their research results. The Chinese Academy of Sciences is a pure research entity in China, owned by the government. From this point, you could say we're different from state-owned enterprises. Secondly, after this investment, this company is run totally by the founders and management team. The government has never been involved in our daily operation, in important decisions, strategic direction, nomination of the CEO and top executives and financial management. Everything is done by our management team."[79]
Yang dramatically increased his ownership stake in by acquiring 797 million shares in 2011. As of June 2011, Yang owned an 8 percent stake in Lenovo. He previously owned only 70 million shares. In a statement, Yang said, "While the transaction is a personal financial matter, I want to be very clear that my decision to make this investment is based on my strong belief in the company's very bright future. Our culture is built on commitment and ownership – we do what we say, and we own what we do. My decision to increase my holdings represents my steadfast belief in these principles."[80] http://en.wikipedia.org/wiki/LenovoWho owns what?...its a guessing game in the PRC.