HP To Buy Palm for $1.2 Billion

Breaking news, fresh off of the wire: HP just finalized agreements to buy Palm for $1.2 billion dollars. HP’s $1.2 billion dollar purchase breaks down to roughly $5.70 per share of common stock. While this is pretty close to the price Palm was rumored to be shopping around as of late, it’s still a mammoth difference from what Palm was trading at just months ago. In October 2009, Palm was worth about $17.46 per share; by January of this year, that was down to $13.41. It has, unfortunately, been a downward spiral ever since.