Palm offers more shares for sale; Nokia interested in buying?

Palm has just announced that its public offering of common stock has been increased to 20,000,000 shares, at a price of $16.25 per share.

Palm expects to receive net proceeds of about $313.1 from the shares’ sale. The Sunnyvale-based smartphone maker says that it wants to use the money “for working capital and general corporate purposes”.

Interestingly, according to Bloomberg, some analysts believe that Nokia could be interested in buying shares from Palm (which recently unveiled its new Pixi smartphone).

Palm shares Nokia

Of course, at the moment there’s nothing official about Nokia’s intention to buy Palm stock. But things can surely become interesting if, say, Nokia would buy Palm for good – although this will probably never happen.

Via Palm

Author: Ilinca Nita

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  • Stephen Manion

    source of the false rumor that Nokia is going to buy Palm is a European press release issued Tuesday about Nokia's purchase of Plum Ventures, Inc. That's Plum, P-L-U-M, not Palm! Of course if you are a non-English speaking European Palm and Plum are just two very similar, random sets of characters. That and previous Nokia/Palm rumor started the rumor anew in Finland, home of Nokia. It jumped the big water without the clarifying press release. Palm stock shot up when the rumor began circulating stateside and still hovers above $17.00 a share. English version of release: http://media-newswire.com/release_1099224.html

  • Stephen Manion

    source of the false rumor that Nokia is going to buy Palm is a European press release issued Tuesday about Nokia's purchase of Plum Ventures, Inc. That's Plum, P-L-U-M, not Palm! Of course if you are a non-English speaking European Palm and Plum are just two very similar, random sets of characters. That and previous Nokia/Palm rumor started the rumor anew in Finland, home of Nokia. It jumped the big water without the clarifying press release. Palm stock shot up when the rumor began circulating stateside and still hovers above $17.00 a share. English version of release: http://media-newswire.com/release_1099224.html