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FTC Grants Approval for Hewlett-Packard's Palm Acquisition



By CIOinsight


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.

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HP is crossing its t's and dotting its i's on its way to fully acquiring Palm. 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 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."

The stockholders have scheduled a special meeting for Friday, June 25, to vote on the proposed merger.

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