Elevation's Take on the Palm Deal? 5%
Bloomberg has published an article on the Hewlett-Packard deal. As one would expect, the article gives a summary of the news of the day with a financial focus. The math wizards there have worked out what Palm investment heros Elevation Partners will take away from their overall investments in Palm Inc. Elevation injected over $460 million since the big recapitalization deal in 2007.
Because of the terms of its investments, Elevation made $25 million, or a 5.4 percent gain, on Palm, while common shareholders lost 65 percent in that period, based on the purchase price.
Also, perhaps comically, Bloomberg just won't let the Palm is for sale meme die. The authors let a little wall st. rumor slip in which purports that Nokia may just still want to put in a bid.
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