[Spaceview]

imported post

PALO ALTO, California (AP) — Palm, a pioneer in the smart phone business that couldn't quite make the comeback it needed, has agreed to be bought out by Hewlett-Packard for about $1 billion in cash.

The companies announced Wednesday that the deal will see HP pay $5.70 for every Palm common share. Palm had closed trading Wednesday at $4.63 but traded as high as $18.09 in the past 52 weeks.


When debt is included, the deal values Palm at $1.2 billion.


The transaction is expected to close by the end of July.

 

[G.A.R.Y]

imported post

Wish hp would have put some of their flush cash into that last printer I purchased. They could also drop their ink to about half price. No wonder they have so much cash.