Google, Lenovo, RIM and Apple Took a Bid for Palm
While the HP/Palm merger is close to being finalized, we learn that a bunch of other important companies were interested in the webOS handset maker as well. The names are quite surprising and here they are, according to Business Insider: Google, Lenovo, RIM and… Apple.
When Palm filed the merger documentation with the SEC, they mentioned 16 potential bidders with 4 finalists getting their best shot. Business Insider’s Dan Frommer details the above-mentioned companies’ offers. For example, RIM offered a $6-7 share, but lost the deal, when it backed down to $5.50 a share.
Lenovo wanted a stock for stock trade, but the transaction would have taken too long for Palm’s liking. Google wanted only the company’s huge patent portofolio, but the deal didn’t come through and Apple apparently offered $600 million in cash, but it was surpassed by HP’s $1.2 billion. Why would Steve Jobs and co want Palm?
Most likely, they were after the company’s patent portofolio, including hundreds of items and protecting their owner from any lawsuits.