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Palm and Nokia: A Match Made in Smartphone Heaven?

Is smartphone maker Palm Inc. (PALM) on the verge of a takeover?

Sure looks that way. For one thing, rumors have been flying this week that rival Nokia (NOK) wants to buy Palm. For another, Palm is offering 20 million common shares for $16.25 each, in hopes of raising approximately $313.1 million.

Palm’s stock was up 13 cents during mid-day trading Wednesday at $17.24 just before noon Eastern.

The question is, would Palm and Nokia make a good match? And the answer seems to be a resounding yes. That’s because, together, the companies would compete solidly Apple Inc. and its iPhone. Palm has a touchscreen interface similar to the iPhone’s. Nokia does not. Palm has worked with all the major U.S. carriers, as one writer pointed out. Nokia has not, although not for lack of trying. The Palm Pre, built to rival the iPhone, also could challenge BlackBerry dominance in the business world.

Makes sense to us.

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