GO
Loading...

Palm Takeover Expected This Week-Report

Palm could be sold for at least $20 per share this week and at least four bidders are interested, including private equity firm Texas Pacific Group, according to unnamed sources cited by technology news Web site Unstrung.com.

Texas Pacific declined to comment. A spokeswoman for Sunnyvale, California-based Palm, which makes the Treo smartphone, was not immediately available.

Sources have previously told Reuters that Palm hired Morgan Stanley to pursue a buyer.

Other bidders may include Nokia or Motorola, the site said. It also said there was speculation that private equity firm Silver Lake was interested in the company.

The site said that Morgan Stanley wants to wrap a deal by March 22.

Palm shares were up just under 5% at $19.02 in pre-market trading after having closed at $18.14 on the Nasdaq on Monday.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More

Don't Miss

U.S. Video

  • In this clip taken from a body camera worn by Rialto police, a man who had been acting suspiciously assaults an officer. Police have been using cameras for 3 years and seen an 80 percent reduction in complaints, as well as a 60 percent drop in use of force.

  • It's a tough time to be a police officer, and Rialto police Sgt. Josh Lindsay, who's been a cop for over 20 years, wonders if he'd recommend the job now. However, he has no regrets.

  • Federal Reserve Chair Janet Yellen, discusses whether the committee is concerned over economic developments in Russia.