HTC not interested in Palm, claims report
Lenovo now tabled as prospective buyer
However, it's recently been claimed that the company itself had been on the hunt for a deal a hunt that pointed it in the direction of HTC.
If Reuters is to be believed however, HTC has effectively closed the door on any possible buyout, the news agency quoting an unnamed source as stating "there just weren't enough synergies to take the deal forward".
In need of a Palm pilot
Palm's future is hardly looking bright, with neither of its major handsets making any indent on either side of the Atlantic.
Indeed, statistics suggest its share of the American smartphone market has fallen in recent months, despite a recent surge in promotion for the Pre Plus.
With the likelihood of the firm surviving in its current state closing despite CEO Jon Rubinstein claiming the company can exist as an independent commentators believe Palm may well look to license webOS to other manufacturers.
It is, undoubtedly, the company's greatest asset, with even negative reviews of the company's handsets praising the implementation of the OS.
Reuters also claims a new potential buyer has been lined up, citing Chinese PC manufacturer Lenovo as the one major player still interested in Palm.
Whatever happens on that score, it would appear Palm is entering a period of significant change.