12.09.2007 23:20 Uhr, Quelle: Engadget

Palm shareholders approve Elevation Partners sale

Filed under: CellphonesIn a move that could be described as "totally unsurprising," Palm shareholders have approved the much-discussed partial sale of the company to a private equity firm called Elevation Partners (of which Bono is a member), and also a change in the board of director's makeup. The plan, if you'll recall, is for Mr. MacPhisto and co. to pay $325 million for a 25-percent stake in the company, while Palm itself will pay out a $9 per-share distribution of cash to current shareholders for a reduction in ownership. There will also be a new executive board chair

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