Lenovo
has announced that it is in exclusive discussions about a potential acquisition
of
Packard
Bell.
The Chinese computer giant said it has entered into a memorandum of
understanding (MOU) with an independent third party to explore the possibilities
of acquiring the European PC company.
Packard Bell was bought from
NEC by Hong Kong
entrepreneur John Hui last year for an undisclosed sum.
The company is currently continuing negotiation with the works council and
said it is undertaking the necessary enquiries with all concerned parties and
government bodies in preparation for entering into definitive agreements for
acquisition.
Should all the necessary checks and balances be met, the deal will be
conducted under the Hong Kong Stock Exchange listing rules.
Lenovo is still warning shareholders and potential investors that the
proposed acquisition may or may not materialise.
Further announcements will be made as and when appropriate to comply with
requisite listing rules and procedures.
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