HP to Acquire Palm for $1.2 Billion | Business Wire

April 28 2010, 1:16pm

PALO ALTO, Calif. & SUNNYVALE, Calif.--(BUSINESS WIRE)--HP (NYSE: HPQ) and Palm, Inc. (NASDAQ: PALM) today announced that they have entered into a definitive agreement under which HP will purchase Palm, a provider of smartphones powered by the Palm webOS mobile operating system, at a price of $5.70 per share of Palm common stock in cash or an enterprise value of approximately $1.2 billion. The transaction has been approved by the HP and Palm boards of directors. The combination of HP’s global sc

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