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Monday, 9 March 2009 - Palm moves to bolster capital ahead of Pre launch | Technology |
  • Pakistanis angry over detentions in Times Sq. case
    Monday, May 24, 2010
    ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
    They
  • Taiwan denies boycotting Australian film festival
    Thursday, August 6, 2009

    AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
  • Merkel's support dips, regional ally resigns International
    Thursday, September 3, 2009

    By Sarah Marsh and Noah Barkin

    BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
  • Minister seeks closure of anti-Berlusconi websites
    Wednesday, December 16, 2009
    ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
  • Asian markets mixed after Wall Street rally
    Wednesday, March 18, 2009

    By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
  • Clinton hammers Obama message home in Asia | 19 February 2009
  • CDC: Fewer schools selling candy, soda | 6 October 2009
  • Russia to increase missiles unless shield agreed: Putin | 2 December 2010
  • Bolivia to swap organic food for Finnish technology: Morales | 23 May 2010


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    Read more with google mobile : Palm moves to bolster capital ahead of Pre launch | Technology |

      My Profile    Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Palm moves to bolster capital ahead of Pre launch Mon Mar 9, 2009 10:57am EDT   Email | Print | Share | Reprints | Single Page [-] Text [+] NEW YORK (Reuters) - Palm Inc will exercise its right to remarket shares held by private equity firm Elevation Partners, in an attempt to bolster its capital ahead of the launch of its new Pre smartphone. The company said on Monday it would remarket 18.5 million common shares that underlie preferred shares and warrant units held by Elevation Partners. Based on current market prices, the shares are worth about $105 million. Elevation will recoup the $49 million it originally paid for the units, and Palm will receive all net proceeds in excess of $49 million, the company said. The company, which warned last week of weaker-than-expected quarterly revenue because of slower sales of older phones, has been considering such a share remarketing to prepare for the launch of the Pre in the first half of 2009. The launch will be a crucial test for Palm as it tries to regain market share from rivals like Apple Inc's iPhone and Research in Motion Ltd's BlackBerry. "These proceeds would be used to strengthen Palm's working capital position and to further bolster the resources Palm is devoting to the launch of the Palm Pre and future product-development efforts," it said in a statement. Palm shares rose 4 percent to $6.41 in early trade. They had risen strongly after Palm unveiled the Pre in January, but had retraced some of the gains in recent sessions on worries about consumer spending and concerns that a later-than-planned launch of the new phone could cause liquidity concerns. (Reporting by Ritsuko Ando; Editing by Steve Orlofsky and Derek Caney) © Thomson Reuters 2009 All rights reserved   Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn     Next Article: Internet seen a growing weapon in Asian radicalization     also on reuters Microsoft and Google are among Barron's top picks Blog: Wildlife, water replacing oil and cattle in Texas? From Madoff to Stanford, sleuths chase assets More Technology News Nokia takes on Apple in online software "arms race" Microsoft's new system easier for browser switch Internet seen a growing weapon in Asian radicalization German court fines man $2,300 for SMS message China Mobile in talks with Taiwan firms on roaming services More Technology News... Editor's Choice Slideshow  A selection of our best photos from the past 24 hours.  Slideshow  Most Popular on Reuters Articles Video Buffett says economy fell off cliff Who got AIG's bailout billions? "Watchmen" falls short of expected box office take EU backs IMF fund boost U.S. healthcare system pinched by nursing shortage AIG warned of global turmoil before rescue: report UPDATE 2-Pressure may mount to know who got AIG bailout blns Merck to buy Schering-Plough for $41.1 billion UPDATE 2-Buffett says economy fell off cliff, fears inflation BUY OR SELL-Will HSBC, the 'big elephant', dance again? 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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