Palm May Offer Itself for Sale This Week
In surprising news, Bloomberg is reporting that the Palm corporation is putting itself up for sale and awaiting potential offers this week. The news comes on the heels of CEO John Rubinstein stating that Palm had a plan to become profitable again. The report is also stating that Palm has already retained Goldman Sachs and Qatalyst Partners to find a buyer, with HTC and Lenovo both expressing interest while Dell has apparently already taken a pass.
No parties have stepped forward to offer a comment per the rumor.
Palm’s stock, which had seen its target price cut to as low as zero by some analysts in recent weeks after poor financial performance, received a boost late last week on rumors of a buyout.
Palm and Apple have been sharing frosty relations in recent years with Palm attempting to recruit a number of former Apple executives and employees to ride the company’s new webOS back to prominence. The company’s launch model, the Palm Pre, was met, however, with veiled threats from Apple Chief Operating Officer Tim Cook over its swiping and pinching multi-touch gestures.
The two companies further argued over iTunes media syncing for the Pre, both firms creating software that synced or broke syncing with the other’s devices as well as complaining about the other to assorted regulatory bodies.