3Com Distributes 535 Million Palm Shares

Posted By: Ed on Friday, July 28, 2000 7:52:14 AM

Late yesterday, 3Com finally distributed 532 million Palm, Inc. shares to its shareholders on record as of close of market that day. Each 3Com shareholder received 1.48 shares of Palm for every share of 3Com.

"A lot of shares will hit the public market, so I think there could be some selling pressure, possibly in the near term," said Chris Sessing an analyst at Crowell Weedon.

3Com will also quite likely drop some as many investors were holding onto it to get the free Palm shares.

The process of spinning off Palm was complicated enough that 3Com released an investor FAQ on Tuesday.

Thanks to CBS Marketwatch

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Both Had a Good Day

Ed @ 7/28/2000 4:13:22 PM #

Despite the dark predictions in this article, 3Com ended the day up about 10% and Palm up about 5% so you can never tell. On the other hand, this is only one day.

Visor Purchase

Glenn @ 7/28/2000 6:34:03 PM #

I recently bought a Visor deluxe retail, although it was a hard choice between the Palm IIIxe and Visor. The main selling point to me was the Usb support and included cradle. I think at this point I would buy a TRG as I use CF for my digital camera, and would enjoy the better speaker they are reputed to have. And as for the kiddie element of the colors - have you seen the Palm SE that is also clear.

Palm Software on sale