HP buys Palm, Bono gets some money back, HP gets mobile, WinMob may face new competition, speculators speculate, weathermen try to see which way the wind blows, watch the skies, all interesting. Ahem, HP’s Press Release says:

HP and Palm, Inc. (NASDAQ: PALM) today announced that they have entered into a definitive agreement under which HP will purchase Palm, a provider of smartphones powered by the Palm webOS mobile operating system, at a price of $5.70 per share of Palm common stock in cash or an enterprise value of approximately $1.2 billion. The transaction has been approved by the HP and Palm boards of directors. 

The combination of HP