Palm Reportedly Seeking a Buyer
Palm is working with Goldman Sachs and Qatalyst Partners to find a buyer, Bloomberg reports, citing three people familiar with the situation. Taiwan's HTC and China's Lenovo have looked at the company and may make offers, said the people.
Palm, which makes the Pre and Pixi smartphones, ranked sixth in the North American smartphone market during the quarter ended Dec. 31 with a 4.3% share, Bloomberg reports, citing data from Gartner Inc. BlackBerry maker Research In Motion (RIMM) was No. 1 with a 44% share, followed by Apple (APL) with 24%.
Palm shares rose 32% last week on renewed speculation of a takeover bid, Bloomberg says.The shares closed Friday at $5.16. -- Written by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV