HP purchases Palm for $1.2 billion
Hewlett Packard today announced that it is acquiring Palm for a cool $1.2 billion, or $5.70 per share of common stock. The acquisition has been approved by the boards of both Palm and HP, but is subject to regulatory approval. All of the regulatory wrangling is expected to be completed by the end of HP’s third quarter which ends July 31, 2010. Palm CEO John Rubinstein is expected to remain at the company in an undisclosed capacity. From the wording within the press release, it appears as if webOS may li...
