3Com Distributes 535 Million Palm Shares
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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