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Wow, this would really surprise me. It makes more sense than Nokia buying them, but still.

A major Palm shareholder told CNBC he expects Motorola to announce as soon as Thursday a deal to acquire Palm for roughly $2 billion.

The shareholder, who preferred not to be identified or have his stake disclosed, confirmed that Morgan Stanley was contacted by Palm in January to shop the troubled hand-held device maker and that the process intensified a couple of weeks again.

That was when Motorola finally got into the game, this shareholder said. Prior to that, negotiations were limited to Nokia and two private equity firms, Silver Lake Partners and Texas Pacific Group.

Source : CNBC via Gizmodo