Palm: The Worst Case Scenario? Palm was taken out for $1.2B, which equates to approximately $2.4 per share with RIM's shares outstanding.
However, PALM was a small fraction of the size of RIM in just about every respect, except for debt (it had $400M in debt, RIM has none). It was essentially bankrupt when it was bought, and had a mere $50M of IP assets on its books.
I think it's a pretty safe argument that RIM is in much, much better shape than Palm was, and that if Palm could garner $1.2B RIM could garner a very nice multiple of that. Assuming it is sold, that is. As a reminder, RIM's current market cap is roughly $3.5B.