Rumor: Palm being sold to the highest bidder this week

Nokia and Motorola are only two of the companies which have been rumored to be buying out Palm later this week for up to a cool $2 Billion. The acquisition of Palm would not only put the company purchaser ahead in the game with smartphone production, but would also wipe out a signifigant competitor, while gaining rights in using the well known Palm brand name.

Palm has also been rumored to be forming a private equity deal with either Texas Pacific Group and Silver Lake Partners, which any company would then acquire on purchase. All companies decline to make any statement, but something definitely seems to be brewing. Its worth mentioning that Palm stocks have increased 5% since the rumor mill has been turning on a buy out. The last few months show a 33% increase in Palm’s stocks worth. — Andrew Dobrow

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