Palm Investor Pushes for Sale of Company

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The Treo smartphone maker’s largest individual investor thinks so. In a letter sent earlier this week to the company’s board of directors, Mark Nelson, former CEO of Ovid Technologies, urged the board to consider selling the company to one of its competitors.

“There are numerous competitors who could benefit immediately from acquiring Palm,” Nelson said in his letter. “The opportunity to realize these benefits will surely erode over time, as will shareholder value. It is imperative the Board act in a timely and decisive fashion before the opportunity to do so is diminished.”


Among the companies that might make a good acquirer, according to Nelson: Apple Computer.

Contacted by phone, Nelson declined to comment on his letter other than to say that he had not yet received a reply from Palm.

“I think the letter speaks for itself,” said Nelson, who owns about 4.1 million shares of Palm, or roughly 8% of the company’s outstanding stock.

Palm spokeswoman Marlene Somsak also declined to comment on Nelson’s letter. She declined to say whether the company is considering — or has already explored — a possible sale.

  • http://www.rimarkable.com/ RIMarkable

    Do you thinks those Research in Motion to buy Palm rumors will start back up?

  • http://www.rimarkable.com RIMarkable

    Do you thinks those Research in Motion to buy Palm rumors will start back up?