Motorola Mobility: Acquisition by Google, Approved by Shareholders. Motorola’s shareholders have accepted the takeover of the company by Google. The Mountain View giant indeed intends to acquire the US company and its patents for US $ 12.5 billion. An operation as the number one Internet research had announced last August.
Thursday, November 17, a special meeting of shareholders of Motorola Mobility was convened to validate the purchase of the firm by the Mountain View giant. In a statement, U.S. outfitter said that about 99% of shareholders representing 74% of shares outstanding, have approved the transaction.
“We are pleased and satisfied with the strong support we have received from our shareholders. (…) We look forward to working with Google to realize the value that this merger will bring to our shareholders and all the new opportunities it will offer our dedicated employees, our customers and partners” said Sanjay Jha, president and CEO of Motorola Mobility as reported by AFP.
Google as announced on August 15, the agreement with the supplier provides a price of US $ 40 per share in cash. Overall, this acquisition will cost some US $ 12.5 billion to the giant web. And a majority of shareholders approved the transaction, one of them had opposed at the time of its announcement. They had indeed filed a complaint, saying the amount of the acquisition inadequate.
The shareholder vote is a new step for Google, which now awaits the findings of an investigation by the U.S. Department of Justice. According to Motorola, however, the sale should be set at the beginning of next year.