PALM - The rebirth of Palm Inc. Message Board

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Technology Stocks : PALM - The rebirth of Palm Inc.

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To: P.M.Freedman who wrote (4041)	3/6/2001 6:43:46 PM
From: Mang Cheng	Read Replies (1) of 6784

"Palm Inc. In Definitive Pact To Buy Extended Sys" Dow Jones Newswires SANTA CLARA, Calif. -- Palm Inc. (PALM) entered a definitive agreement to acquire Extended Systems Inc. (XTND), a mobile enterprise vendor, in a $264 million stock transaction. In a press release Tuesday, Palm said shareholders of Extended Systems, Boise, Idaho, would receive $22 in Palm stock for each share, subject to certain collars. If the average closing price of Palm stock is greater than $22, the stock exchange ratio will be 1-for-1. If Palm's average closing price is less than $16.60, each Extended Systems share will swap for 1.325 Palm shares. The transaction is subject to regulatory and Extended Systems stockholder approvals, and is expected to close in June 2001. Mang's comments: obviously Palm is quite confident that Palm share price will be above $22 by June so as to give out as little shares as possible.

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