Bloomberg has cited three unidentified sources as saying that Palm Inc (NASDAQ: PALM) is seeking a buyer and is looking for bids as early as this week. Following the news, PALM’s shares soared 8.33% to $5.59 in the pre-market session.
The sources added that the loss-making smartphone maker is working with Goldman Sachs Group Inc (GS) and Qatalyst Partners to find a buyer. PALM’s takeover rumors have been making rounds for the past week, as a result of which the company’s share price been highly volatile.
Frankfurt-listed Palm shares had jumped on Friday after Taiwan’s Economic Daily News said that HTC Corp, the world’s No. 5 smartphone maker, had started discussions with PALM with the intent to acquire the company.
Read more from Benzinga’s Company news.
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