The Lakers are one of many teams interested in trade candidate Ramon Sessions. According to Marc Stein, the Cavaliers would be looking for at least one of the Lakers two first-round picks in 2012.
Stein says Los Angeles is balking at including either of their first-rounders, or their $8.9MM trade exception, until they have a clearer understanding of Dwight Howard's situation in Orlando. The Lakers interest in Howard is well documented, and they clearly don't want to jeopardize any of their trade assets in a deal for Sessions if there is a chance they can land Howard.
The Lakers received one of their 2012 first-round picks and the $8.9MM trade exception when they dealt Lamar Odom to Dallas in the offseason.