Goldman Sachs priced a 23 million-share IPO for 3Com's (COMS) Palm (PALM) unit at $38 a share, above the expected range of $30 to $32.

3Com will receive 532 million shares from the offering and will divest the shares within six months by handing them over to its stockholders. (

TheStreet.com

looked at a fund offering its lucky investors a piece of the Palm IPO in a separate

story.)

America Online

(AOL)

,

Nokia

(NOK) - Get Report

and

Motorola

(MOT)

are set to buy the $225 million worth of the

Palm Pilot

maker's stock at its IPO price.

In other postclose news (earnings estimates from

First Call/Thomson Financial

; earnings reported on a diluted basis unless otherwise specified):

Mergers, acquisitions and joint ventures

Aetna

(AET)

said

WellPoint Health Networks

(WLP)

and

ING America Insurance Holdings

, a unit of

ING Groep

(ING) - Get Report

launched a $10.2 billion takeover bid for Aetna, one day before Aetna ousted its CEO and began examining its operations.

Aetna said WellPoint and ING America Insurance Holdings made a $70-a-share offer, which included $44 in cash and $26 in WellPoint stock. According to

CNBC

, the deal would divide Aetna into two units, with WellPoint taking on the global health insurance business and ING managing the financial services operations.

For more on Aetna's day, take a look at the

story written this evening by

TheStreet.com/NYTimes.com

joint newsroom.

Lee Enterprises

(LEE) - Get Report

said it would sell its TV and broadcasting stations to focus on publishing and Internet services. Chairman and CEO Richard Gottlieb said the company would immediately begin talks with possible buyers and that the unit, which consists of nine network affiliate stations and seven satellite stations, would be sold within three months. During fiscal 1999, its stations represented $122.5 million of its $536.3 million total revenues.

Players International

(PLAY) - Get Report

said it would still be bought by

Harrah's Entertainment

(HET)

and would not exercise its option to ax the deal if it is not closed by March 10. The companies are waiting to receive approval from the

Illinois Gaming Board

, which pushed back its decision on the merger since a new statute allowing several casino licenses has been challenged. The board will meet on March 10.

Radiant

(RADS)

and

Microsoft

(MSFT) - Get Report

said they have entered a deal to set up e-commerce marketplaces for retailers. The deal calls for Microsoft to take an undisclosed equity stake in Radiant and support product development. The venture would help small and mid-sized retailers buy supplies for their businesses.

Reliant Energy

(REI) - Get Report

said it now owns 100% of the Dutch power firm

N.V. UNA

TST Recommends

, after it bought the remaining 48% of the company for roughly $975 million. Reliant said the total acquisition, which includes a $426 million promissory note, carried a $2.2 billion price tag. Reliant purchased 40% of UNA for $775 million in October and bought an additional 12% in December.

Earnings/revenue reports and previews

Adobe Systems

(ADBE) - Get Report

said it was poised to post "a solid first-quarter in fiscal 2000." The 12-analyst estimate expects the company to post first-quarter earnings of 43 cents a share.

Burlington Coat Factory Warehouse

reported a 7% increase in third-quarter same-store sales.

Hearst-Argyle

(HTV)

posted fourth-quarter earnings of 17 cents a share, in line with the three-analyst estimate and down from the year-ago 40 cents.

Kimco Realty

(KIM) - Get Report

posted fourth-quarter funds from operations of 97 cents a share, a penny better than the 12-analyst estimate and up from the year-ago 81 cents.

Michael Stores

(MIKE)

reported fourth-quarter earnings of $1.41 a share, greatly beating the 11-analyst estimate of $1.25 and up from the year-ago 99 cents. The retailer posted an 8% increase in February same-store sales.

Net2Phone

(NTOP)

reported a second-quarter loss of 17 cents a share, a penny narrower than the seven-analyst estimate but wider than the year-ago 3-cents loss.

Pacific Gateway

(PGEX)

reported fourth-quarter earnings of 5 cents a share, in line with the four-analyst estimate but down from the year-ago 25 cent-profit.

Verio

(VRIO)

posted a fourth-quarter loss of 71 cents a share, narrower than the 23-analyst estimate of a 75-cent loss but wider than the year-ago 51-cent loss.

Offerings and stock actions

Abgenix

(ABGX)

set a 2-for-1 stock split.

ViaLink

(IQIQ)

set a 2-for-1 stock split.

Analyst actions

SG Cowen

raised its price target on

JDS Uniphase

(JDSU)

to 300 from a range of 250 to 275. The firm also upped its price target on

Ciena

(CIEN) - Get Report

to 200 from 130. Both stock are tagged with buy ratings.

Miscellany

Intergraph

(INGR) - Get Report

said it has tapped Jim Taylor as its new CEO. Intergraph would replace the company's current CEO Jim Meadlock.

Parametric Technology

(PMTC)

said it selected C. Richard Harrison as its new president and CEO.

Wal-Mart's

(WMT) - Get Report

e-commerce site

Wal-Mart.com

said it has tapped the former head of

Banana Republic

, Jeanne Jackson, as its CEO. Separately,

Gap

(GPS) - Get Report

, Banana Republic's parent, announced Jackson's departure from her roles at the retailer.

Separately, Gap posted a 4% increase in February same-store sales.

For a look into this evening's after-hours trading action, please check out

TheStreet.com's

The Night Watch.