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Submission + - HP purchases Palm for $1.2 Billion (engadget.com)

psycho12345 writes: HP has just announced that it's acquiring Palm to the tune of $1.2 billion, which works out to $5.70 per share of Palm common stock. The deal is planned to close by July 31, which marks the end of HP's third fiscal quarter of the year. Current Palm CEO Jon Rubinstein is "expected to remain with the company," though it's not said in what capacity.

Kinda surprising, but not entirely unexpected.

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