Palm sells stake; hopes to capture some iPod magic
Palm sells stake; hopes to capture some iPod magic by ZDNet’s Larry Dignan — Palm said Monday it will sell a 25 percent stake to private equity firm Elevation Partners. As part of the transaction former Apple executives Jon Rubinstein and Fred Anderson will join Palm’s board. The transaction (Techmeme discussion) recapitalizes Palm in a way that would have occurred if it had gone private. Palm shareholders will receive $9 [more...]
