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Source: Yahoo News
Writer: AP
HP to acquire Palm for nearly $1 bln in cash
PALO ALTO, Calif. – Computer maker Hewlett-Packard Co. has agreed to acquire struggling smart phone maker Palm Inc. for nearly $1 billion in cash.
The companies announced Wednesday they had agreed to the deal, which will see HP pay $5.70 for every Palm common share. Palm had closed trading Wednesday at $4.63 but traded as high as $18.09 in the past 52 weeks.
When debt is included, the deal values Palm at $1.2 billion.
The transaction is expected to close by the end of July.
Writer: AP
HP to acquire Palm for nearly $1 bln in cash
PALO ALTO, Calif. – Computer maker Hewlett-Packard Co. has agreed to acquire struggling smart phone maker Palm Inc. for nearly $1 billion in cash.
The companies announced Wednesday they had agreed to the deal, which will see HP pay $5.70 for every Palm common share. Palm had closed trading Wednesday at $4.63 but traded as high as $18.09 in the past 52 weeks.
When debt is included, the deal values Palm at $1.2 billion.
The transaction is expected to close by the end of July.
like anyone has ever handed over billions or millions in cash.
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