Palm Folds, Goes to HP For $1.2 Billion

Hewlett-Packard (HPQ) will pay $5.70 a share for Palm (PALM). CEO Jon Rubinstein “is expected to remain with the company”. Here’s the release. [Update: Here's a link to the liveblog of Palm and HP's conference call to explain the deal.] Why would a Palm-HP combo work? In part, because no one else seemed to want the battered smartphone company.