File this one under juicy gossip that might leave a bit of a bad aftertaste: Covert Stock Operations is reporting that RIM is planning on buying out Palm, with an announcement to come possibly this Thursday during their quaterly financial report (which interestingly coincides with Palm’s).
The 80+% of PALM that is held by instituations have been pressuring PALM to take a buyout. A buyout is in the works. RIMM is the most likely candidate, as they need PALM to survive.
Some potential caveats to the merger? The new company would be listed as PALM on the NASDAQ, RIM c0-CEO Jim Balsillie would be fired, and it would be considered “a merger of equals.” Sounds link bunk, and BBHub agrees, but we’ll have more on this for you later this afternoon. Until then, why don’t you post a comment and tell us what you think?