WSJ.com - Major Palm Shareholder Urges Board to Consider Sale of Firm: "One of the largest shareholders of Palm Inc. has sent a letter to the board of the maker of hand-held devices urging directors to explore a sale of the company.
Mark Nelson, a private investor who owned nearly 3.3 million shares, or 6.6% of Palm, according to a Securities and Exchange Commission filing in August, sent the letter recommending a possible sale to the board of the Sunnyvale, Calif., company on Tuesday.
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In his letter, Mr. Nelson acknowledges the rising share price of Palm and says the company is "in the ascendant." But he argues that Palm, which is one of the smallest players in a cutthroat cellphone market that is dominated by giants like Nokia Corp., faces such intense competition and likely commoditization that these "overwhelming market forces will render insignificant steps this [Palm] or any management can take.""
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