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.
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