When HP announces its intentions to take over Palm, two open questions remained. a) was whether the FCC would accept the merger, while b) was whether the stockholders would agree.
a) has just been solved in favor of Palm and HP. The SEC filing contains the following passage:
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On June 1, 2010 the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to the pending acquisition by Hewlett-Packard Company (“HP”) of Palm, Inc. Palm has also received all required pre-closing foreign antitrust approvals. The proposed merger remains subject to other customary closing conditions, including the approval of Palm’s stockholders. The special meeting of Palm’s stockholders to vote on the proposed merger is currently scheduled to be held on Friday, June 25, 2010.
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Now, all that needs to be cleared is the agreement of the stockholders – let’s wait and see what happens on the 25th…
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