Palm Shareholders Approve HP Buyout

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Today, the Palm shareholders held their meeting to vote on whether to accept HP’s offer ($5.70 per share, plus HP takes on Palm’s debt). As was expected, Palm’s investors approved the deal and there was said to be general excitement about the deal.

Former Apple engineer and current Palm CEO Jon Rubinstein will stay on-board. Rubinstein, probably the man given the most credit for webOS, will head up HP’s new Mobility unit. It’ll consist of Palm’s hardware assets and will gain HP’s iPAQ line of smartphones.

The merger between HP and Palm is supposed to be completed by the first week of July. Other notes from the meeting, although Verizon ordered 1 million Palm Pre phones for the launch, they haven’t ordered any since. AT&T is reportedly better at selling the Palm hardware and they were described by Palm as being “better trained.”

Sounds like there was a lot of excited people at the Palm shareholder meeting. webOS 2.0 was mentioned. Will we see a webOS tablet sooner? We know HP really is keen on the mobile OS, and they even want to put it on printers. Once the deal is finished, we could see them start to churn these products out.