Wasn't Palm Inc. (NASDAQ: PALM) supposed to be bought out already? Weren't investors supposed to make a quick hit and go to the next buyout candidate?Well, some investors have already moved on. After reaching a high of $19.45, the stock has slipped to $17.18 per share.
The hope was that Motorola Inc. (NYSE: MOT) would buy Palm. Or was it the Texas Pacific Group? Maybe Dell Inc. (NASDAQ: DELL)? I really can't remember, actually.
In fact, according to a report on Bloomberg.com, the CEO of Palm, Ed Colligan, says he's not thinking of selling out. Instead, he still believes he can slay Research in Motion Ltd. (NASDAQ: RIMM) and Nokia Corp. (NYSE: NOK).
That's a noble mission – but it's not what buyout traders want to hear.
Expect more volatility in the stock. I think we can get some more rumors out of this one.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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