Palm selling this week?

Chris Ziegler
C. Ziegler|03.20.07

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Chris Ziegler
March 20th, 2007
Palm selling this week?
Alright, Palm, your days of making incrementally improved, merely evolutionary Treos may finally be numbered. Or not, depending on how your new owner wants to roll, but either way, rumors have now gone from a simmer to a full boil that a Palm sale is imminent. Like, seriously imminent -- Morgan Stanley, which Palm hired to court suitors, allegedly wants to get a deal sealed by March 22. The company -- which rose to stardom as a division of USRobotics and 3Com and made a huge splash in the then-budding smartphone market -- is now a shadow of its former self thanks largely to a split which saw its software division ultimately getting bought by Japan's ACCESS. Be that as it may, word has it the sale should command $20 a share -- a healthy premium over Palm's recent pricing -- and at least four companies are rumored to have interest: Nokia (could we finally see that Symbian-powered Treo?), Motorola, and a pair of private investment firms. We wish you the best of luck, Palm; there's definitely a certain sentimental value associated with your name these days, and we hope your new owners do what it takes to get you back on the straight and narrow. Keep pluggin' away at that WiMAX handset!
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