Hewlett-Packard's Palm Acquisition Gains FTC Approval
By Channel Insider Staff | Posted 2010-06-03
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On June 1, the FTC granted HP early termination of a waiting period, moving the process on to a June 25 vote by Palm shareholders.
The stockholders have scheduled a special meeting for Friday, June 25, to vote on the proposed merger.Hewlett-Packard moved a step closer to officially owning smartphone-maker Palm June 1, when the Federal Trade Commission gave its approval of the acquisition, granting the early termination of a waiting period imposed by a 1976 antitrust act.
"The proposed merger remains subject to other customary closing conditions," states a document filed with the Securities and Exchange Commission, "including the approval of Palm's stockholders."
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