Back in February, there were rumors that Motorola was looking to purchase Palm. A few weeks later, a similar rumor surfaced, this time with Nokia being the possible suitor. According to Unstrung, both are in contention to buyout Palm as early as tomorrow. The site claims sources close to the situation say Palm would like to finalize the deal by March 22nd, the day Palm is scheduled to report their third quarter results. In addition to both Nokia and Motorola, there are apparently two private equity firms involved in the bidding. Sources say Motorola is rethinking their bid with the intention of blocking rival Nokia. CEO Ed Zander has canceled his schedule keynote address at CTIA next week. Zander is said to be fond of the mid-tier and high end models offered by Palm, models that would offer price leverage for Motorola who is involved in a low-end price war with Nokia.
There are no odds on favorites and all of this speculation will end tomorrow when Palm reports earnings.
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Thanks Unstrung!
