Palm seeking takeover bids - report

News Wireless Global 12 APR 2010
Palm seeking takeover bids - report
Palm is seeking bids for the company as early as this week, three people familiar with the situation told Bloomberg News. The company is working with Goldman Sachs and Qatalyst Partners to find a buyer. HTC and Lenovo are among the interested bidders, while Dell looked at the company but decided to not make an offer, according to the news agency's sources. Shares in the California-based smartphone maker surged 32 percent last week on renewed speculation of a takeover bid. Before the rally, the stock had plunged more than 60 percent this year, dragged down by disappointing sales of the Pre and Pixi phones. Lynn Fox, a Palm spokeswoman, declined to comment.

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