Palm: Lenovo Appears to Be Only Remaining White Knight

Shares of Palm Inc. (PALM) remained inactive in after-hours trading Friday despite reports that the sinking smartphone maker really could have a white knight in Lenovo.

Reuters said on Friday cell phone manufacturer HTC. However, the news service reported, PC maker Lenovo now tops the list of candidates to buy Palm; other potential purchasers are said to have turned Palm down. Lenovo would be able to take advantage of market share in the United States and perhaps apply WebOS to new devices.

There are no details on what such an acquisition would cost Lenovo. There also are questions over what Palm would bring to such a deal. The key asset appears to be Palm’s WebOS platform, which runs on the Pre and Pixi devices.

Investors reacted during trading hours by boosting Palm’s stock price 3.5 percent but left shares untouched afterward. Shares of Palm closed at $5.03 on April 23.


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