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HP To Buy Palm For $1.2 Billion
necro81 writes "Palm, Inc., which has struggled in recent months after making a splash with its Pre smartphone, will be bought by HP, the world's largest computer maker. The deal has been approved by both companies' boards, and should be wrapped up this summer. HP will get Palm for about $5.70/share (about 20% above today's closing price), or about $1.2 billion. That's a pretty good deal, considering that in the months following the launch of the Pre on Sprint's network, Palm's share price topped $16. But marketing blunders hindered the Pre's more widespread adoption on other carriers, and the company's very existence has recently seemed in doubt."
HP makes palm devices.
Palm makes palm devices.
They COMPETE.
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Seriously... How does this junk fly without the greasing of political pockets?
But don't worry... some distraction of an explanation will come up... some B.S. to lure you away from the main point that these two companies compete directly and now they won't be.
If they can consolidate, that's fine. But then I want my government to set maximum pricing, and set it nice and low so as to protect me from olig/monopoly gouging.