Private-equity firm buys into Palm - BetaONE will rise again!

4th Jun 07, 04:16 PM

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Private-equity firm buys into Palm

*Source: News.com (http://news.com.com/Private+equity+f...20&subj=news)*
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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.

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