Lenovo may acquire Packard Bell
08 Aug 2007
The world''s third-largest maker of personal computers, Lenovo Group Ltd., is in talks to acquire European PC maker Packard Bell BV from principal owner John Hui, the two companies said on Tuesday.
Lenovo has been building a global brand identity by making overseas investments.
A Packard Bell spokesman denied a media report that Lenovo was competing with Acer Inc. to buy Packard Bell and said Lenovo was in exclusive negotiations with Hui, also known as Lap Shun Hui, the former owner of another computer maker, eMachines.
The Hong Kong Economic Journal had reported yesterday that Lenovo and Acer were both vying for Packard, which Hui had bought from NEC Corp. in October 2006.
Lenovo said it was also working with other government bodies in advance of entering into of definitive agreements for its proposed acquisition.
In April, Acer had announced its intention to buy a PC maker in three to five months to improve its market share, though it did not identify its potential target, saying that it would neither be a US or nor a Taiwanese company.
Lenovo,
which had been overtaken by Acer to the third rank in global sales during thefirst
quarter of 2007, has regained its No.3 rank.
