Palm up for sale?

Following takeover speculation

12 April 2010 9:32 GMT / By Duncan Geere

Following last week's rumours of Lenovo's takeover bid for phone-makers Palm Inc, Bloomberg is reporting that a number of people "familiar with the situation" have told the finance news site that the company is seeking buyers.

Palm is said to be working with Goldman Sachs and Qatalyst Partners to pick a suitor, with HTC and Lenovo both named as potential offer-makers. Palm's stock has had a rollercoaster ride over the last year, with it surging to 10 times its former value but then losing almost all of it until last week, when it surged again following takeover rumours.

Palm has refused to comment, and so have Lenovo and HTC. Dell is reported to have taken a look at the company, but eventually declined to put forward a bid. Other potential suitors are Huawei Technologies and ZTE Corp - two of China's larger phonemakers. Palm currently has a market value of approximately $870 million.

Via: bloomberg.com

Full tags

Biz, Palm, Phones, Palm Pre, Palm Pixi, Rumours, Lenovo, Mergers