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Palm Blvd > News > Palm Acquires extended Systems
By
March 7, 2001 "Palm intends to be as popular with CIOs as it is with individuals"
Under the terms of the agreement, Extended Systems' stockholders will
receive a number of Palm shares based on the average closing price for Palm
for the 10 trading days ending two business days prior to the
Extended Systems' stockholders' meeting. If the average closing price of Palm
stock is between $16.60 and $22.00 per share, Extended Systems' stockholders
will receive a number of shares equal to $22.00 per share divided by the Palm
average closing price. If the average price is at or above $22.00,
Extended Systems' stockholders will receive one Palm share for each
Extended Systems' share; if the average price is at or below $16.60,
Extended Systems' stockholders will receive 1.325 Palm shares for each
Extended Systems' share. Palm will account for this transaction using the
purchase method of accounting. The transaction is subject to regulatory and
Extended Systems stockholder approvals, and is expected to close in June 2001.
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