Private-equity firm buys into Palm

Iria · Jun 4, 2007, 03:38 PM

Source: News.com
________
Palm is selling a 25 percent stake to private-equity firm Elevation Partners for $325 million and is bringing in Jon Rubinstein, who formerly ran the iPod division at Apple, as executive chairman of the board.

Palm said it would use the investment, along with existing cash, to pay out $9 per share to shareholders.

Jun 4, 2007, 03:38 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Private-equity firm buys into Palm Source: News.com ________ Palm is selling a 25 percent stake to private-equity firm Elevation Partners for $325 million and is bringing in Jon Rubinstein, who formerly ran the iPod division at Apple, as executive chairman of the board. Palm said it would use the investment, along with existing cash, to pay out $9 per share to shareholders.