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Hewlett-Packard buys Palm for $1.2 billion

submitted on April 28, 2010 by WhattaDealBlog in "Member's Lounge"
http://www.marketwatch.com/sto.....2010-04-28

Hewlett-Packard Co. said Wednesday afternoon that it will acquire Palm Inc. in a cash deal worth $1.2 billion -- ending months of speculation about the fate of the struggling handset maker.

The proposed merger would transform H-P, already the world's top seller of personal computers, into a leading competitor in the rapidly growing smartphone market -- an area pioneered by Palm.
 

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