Notes: 

HP and Palm, Inc. (NASDAQ: PALM) today announced that they have entered into a definitive agreement under which HP will purchase Palm, a provider of smartphones powered by the Palm webOS mobile operating system, at a price of $5.70 per share of Palm common stock in cash or an enterprise value of approximately $1.2 billion. The transaction has been approved by the HP and Palm boards of directors.

At a special stockholder meeting held June 25, 2010, the stockholders of Palm, Inc. (“Palm”) approved the Agreement and Plan of Merger dated April 28, 2010 among Palm, District Acquisition Corporation and Hewlett-Packard Company (“HP”). Such approval occurred by way of the affirmative vote of a majority of the (i) holders of the outstanding shares of Palm common stock, Series B preferred stock and Series C preferred stock at the close of business on the record date, May 24, 2010, voting together as a single class on an as-converted basis, and (ii) holders of the outstanding shares of Palm common stock not beneficially owned by Elevation Partners, L.P., or its affiliates.
The transaction is expected to close on Wednesday, July 1, 2010