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
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV