Tuesday, March 20, 2007

Palm Takeover

So it looks like Palm is going to be sold:

Palm Inc. (PALM.O: Quote, Profile, Research) could be sold for at least $20 per share this week, and private equity firm Texas Pacific Group and at least three other bidders are interested, according to unnamed sources cited by technology news Web site Unstrung.com.

Texas Pacific declined to comment. A spokeswoman for Sunnyvale, California-based Palm, which makes the Treo smartphone, was not immediately available.

Sources have previously told Reuters that Palm hired Morgan Stanley to pursue a buyer.

Other bidders may include Nokia (NOK1V.HE: Quote, Profile, Research) or Motorola Inc. (MOT.N: Quote, Profile, Research), the site said. It also said there was speculation that private equity firm Silver Lake was interested in Palm.

The one thing the report doesn't say is why? For strategic reason? Or are the current owners just bored of it and want out?

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