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  1.    #1  
    for 5.70/share...


    FOR real...breaking news!!!!!!!!

    Moderator note - This is the official discussion thread for HP's aquisition of Palm. Do not make any further threads and please point others to this thread.
    Last edited by pogeypre; 04/28/2010 at 03:25 PM.
  2. #2  
    Pretty good news...
  3. #3  
    Good. Now we can move on from this buyout talk and HP can front advertising cash.
    Are you trying to hurt me?
  4. RugbyMan's Avatar
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    #4  
    FBN just reported HP buying Palm for 1.2 bil.
  5. bignoze's Avatar
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    #5  
    yea......!!!

    CNBC.com
  6. #6  
    $1.2bn, or $5.70 a share. Stock had closed at 4.63 prior to the announcement.
  7.    #7  
    Combination will Accelerate HP's Growth within the More Than $100 Billion Connected Mobile Device Market
    PALO ALTO, Calif. & SUNNYVALE, Calif., Apr 28, 2010 (BUSINESS WIRE) -- HP (HPQ) and Palm, Inc. (PALM) today announced that they have entered into a definitive agreement under which HP will purchase Palm, a provider of smartphones powered by the Palm webOS mobile operating system, at a price of $5.70 per share of Palm common stock in cash or an enterprise value of approximately $1.2 billion. The transaction has been approved by the HP and Palm boards of directors.
    The combination of HP's global scale and financial strength with Palm's unparalleled webOS platform will enhance HP's ability to participate more aggressively in the fast-growing, highly profitable smartphone and connected mobile device markets. Palm's unique webOS will allow HP to take advantage of features such as true multitasking and always up-to-date information sharing across applications.
    "Palm's innovative operating system provides an ideal platform to expand HP's mobility strategy and create a unique HP experience spanning multiple mobile connected devices," said Todd Bradley, executive vice president, Personal Systems Group, HP. "And, Palm possesses significant IP assets and has a highly skilled team. The smartphone market is large, profitable and rapidly growing, and companies that can provide an integrated device and experience command a higher share. Advances in mobility are offering significant opportunities, and HP intends to be a leader in this market."
    "We're thrilled by HP's vote of confidence in Palm's technological leadership, which delivered Palm webOS and iconic products such as the Palm Pre. HP's longstanding culture of innovation, scale and global operating resources make it the perfect partner to rapidly accelerate the growth of webOS," said Jon Rubinstein, chairman and chief executive officer, Palm. "We look forward to working with HP to continue to deliver industry-leading mobile experiences to our customers and business partners."
    Under the terms of the merger agreement, Palm stockholders will receive $5.70 in cash for each share of Palm common stock that they hold at the closing of the merger. The merger consideration takes into account the updated guidance and other financial information being released by Palm this afternoon. The acquisition is subject to customary closing conditions, including the receipt of domestic and foreign regulatory approvals and the approval of Palm's stockholders. The transaction is expected to close during HP's third fiscal quarter ending July 31, 2010.
    Palm's current chairman and CEO, Jon Rubinstein, is expected to remain with the company.
    Audio webcast
    Today at 5 p.m. ET / 2 p.m. PT, HP will conduct a live audio webcast for financial analysts and stockholders to discuss HP's agreement to acquire Palm.
    The webcast will be hosted by Todd Bradley and is accessible at .
    About Palm
    Palm, Inc. creates intuitive and powerful mobile experiences that enable consumers and businesses to connect to their information in more useful and usable ways. The company's groundbreaking Palm webOS platform, designed exclusively for mobile application, introduces true multitasking and Palm Synergy, which brings your information from the many places it resides into a single, more comprehensive view of your life. More information about Palm, Inc. is available at .
    About HP
    HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world's largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at .
    Additional information and where to find it
    Palm intends to file with the Securities and Exchange Commission a preliminary proxy statement and a definitive proxy statement and other relevant materials in connection with the acquisition. The definitive proxy statement will be sent or given to the stockholders of Palm. Before making any voting or investment decision with respect to the merger, investors and stockholders of Palm are urged to read the proxy statement and the other relevant materials when they become available because they will contain important information about the acquisition. The proxy statement and other relevant materials (when they become available), and any other documents filed by Palm with the SEC, may be obtained free of charge at the SEC's website at , by going to Palm's Investor Relations page on its corporate website or by contacting Palm's Investor Relations department by email at teri.klein@palm.com, by phone at (408) 617-7000, or by mail at Palm, Inc., Investor Relations, 950 West Maude Avenue, Sunnyvale, Californ
  8. Csquared's Avatar
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    #8  
    $ 5.70 a share
  9. #9  
    uhhh

    I think this is a good thing. HP bought Compaq and Compaq labeled devices were still around for a long time..
    Last edited by Nightburn; 04/28/2010 at 03:17 PM.
  10. #10  
    Interesting
  11. spikea4's Avatar
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    #11  
    Just saw it on CNBC. CEO to stay with Palm?
  12. #12  
    YUP.....Fox business News...just reported it!!
    GIVE DEBBIE THE CHIMP.....GIVE DEBBIE THE CHIMP!!!
  13. #13  
    Thank the maker. Hotshot some new hardware pronto!
  14.    #14  
    No conflicts of interest with HP so i think Webos lives on.

    Ruby staying on as well is good!
  15. #15  
    It's true. Just read the news release. HP buys Palm for $1.2 billion. Wow ...
  16. Olidie's Avatar
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    #16  
    Yep, it's a developing story. I'm happy that it's HP.
  17. #17  
    With Palm's money crunch, not surprised the company was sold. It will be interesting to see how things change going forward.
  18. #18  
    very good news. Can not wait to hear from all the ones who so want to see palm fail. Man they are going to put out one hell of a device I assume.
  19. #19  
    Keep your Palm labeled devices they are now Classics........
    Back to your bridge evil troll you have no powers here.
  20. spikea4's Avatar
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    #20  
    They said that HP is looking to get into the phone business. So I hope that means WebOS and Palm will continue as is!
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