Lenovo (LNVGY) announced it is in discussion with an independent third party for an acquisition of Packard Bell.

The company has not announced yet the proposed purchase price.

Lenovo says it has entered into a memorandum of understanding with that third party to explore the possibilities of the proposed acquisition. Lenovo is currently continuing negotiation and undertaking certain necessary inquiries with third parties and government bodies in preparation for the entering into of definitive agreements for such proposed acquisition.