"Lenovo (0992.HK), the world's No.4 PC brand, has emerged as the leading candidate to buy struggling smartphone maker Palm (PALM.O), after the U.S. firm was rebuffed by other potential Asian buyers, sources said. Shares of Hong Kong-listed Lenovo rose as much as 5.9 percent percent to a 23-month high on Friday, helped by expectations of strong growth in the sector and speculation that it could bid for the U.S. company once considered a pioneer in the smartphone space... HTC (2498.TW), the world's No. 5 smartphone brand and one name associated with a possible offer, was approached about making a bid but decided to pass after reviewing Palm's books, a source with direct knowledge of the situation said."
Well, if you secretly wished for our beloved HTC to scoop up Palm, prepare to be sorely disappointed. Reuters has reported that the Taiwanese company has pulled out of bidding due to a lack of synergy that would otherwise be needed to "take the deal forward". Although, the article also mentions that the decision was reached following HTC's analysis of Palm's books, so Palm could potentially be in a bigger hole than first thought. Moving on, Lenovo has apparently emerged as the leading candidate to purchase Palm, and it's certainly in a good position to do so. But, will it happen? Only time will tell.