Harbinger Capital Gambles On Palm, Buys 9.5% Stake

philip falcone harbinger

Harbinger Capital is rolling the dice with Palm. In an SEC filing, the hedge fund disclosed that it purchased 16 million shares, or 9.48%, of Palm.

Harbinger is betting that Palm sells itself at a premium to its current ~$6 share price. Palm has hired Goldman and Frank Quattrone’s Qatalyst Group to sell the company.

BONUS: Who Is Going To Buy Palm?

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