Motorola Stockholders Approve Merger With Google

rated by 0 users
This post has 6 Replies | 1 Follower

Top 10 Contributor
Posts 26,383
Points 1,192,350
Joined: Sep 2007
ForumsAdministrator
News Posted: Fri, Nov 18 2011 11:14 AM

The proposed merger between Google and Motorola is one step closer to completion. Recently, Motorola's stockholders voted with an overwhelming majority to approve the proposed merger with Google. At a recently held Special Meeting of Stockholders, approximately 99% of the voting shares voted in favor of the merger agreement. Approximately 74% of Motorola Mobility’s total outstanding shares of common stock were represented in this vote. The merger is still subject to various closing conditions that could delay or prevent the merger, but assuming all goes well, the merger is expected to close in early 2012.

Motorola Mobility Stockholders Approve Merger with Google

LIBERTYVILLE, Ill. – Nov. 17, 2011 – Motorola Mobility Holdings, Inc. (NYSE: MMI) (“Motorola Mobility”) today announced that at the Company’s Special Meeting of Stockholders held today, stockholders voted overwhelmingly to approve the proposed merger with Google Inc. (NASDAQ: GOOG) (“Google”).

Approximately 99 percent of the shares voting at today’s Special Meeting of Stockholders voted in favor of the adoption of the merger agreement, which represented approximately 74 percent of Motorola Mobility’s total outstanding shares of common stock as of the October 11, 2011 record date for the Special Meeting.

Sanjay Jha, chairman and CEO of Motorola Mobility, said, “We are pleased and gratified by the strong support we have received from our stockholders, with more than 99 percent of the voting shares voting in support of the transaction. We look forward to working with Google to realize the significant value this combination will bring to our stockholders and all the new opportunities it will provide our dedicated employees, customers, and partners.”

As previously announced on August 15, 2011, Motorola Mobility and Google entered into a definitive agreement for Google to acquire Motorola Mobility for $40.00 per share in cash, or a total of approximately $12.5 billion. The Company previously disclosed that it expected the merger to close by the end of 2011 or early 2012. While the Company continues to work to complete the transaction as expeditiously as possible, given the schedule of regulatory filings, it currently believes that the close is expected to occur in early 2012. It is important to note however, that the merger is subject to various closing conditions, and it is possible that the failure to timely meet such conditions or other factors outside of the Company’s control could delay or prevent the Company from completing the merger altogether.

  • | Post Points: 80
Top 50 Contributor
Posts 3,236
Points 37,910
Joined: Mar 2010
AKwyn replied on Fri, Nov 18 2011 1:49 PM

And the assimilation begins... Now that the mergers been approved; I'd like to see how Google handles the situation with it's own phone division as well as it's contract with other phone manufacturers...

EDIT: I get that they're acquiring them for the patents but they also mentioned that they keep Motorola Mobility running as a separate subsidiary.

 

"The future starts with you; now start posting more!"

  • | Post Points: 5
Top 200 Contributor
Posts 436
Points 3,395
Joined: Dec 2010
LLeCompte replied on Fri, Nov 18 2011 6:00 PM

i think it will go fine, google mainly bought the company for patients. OEMs should be thankful because now they have weapons to defended themselves against attacks from everyone else

  • | Post Points: 5
Top 10 Contributor
Posts 4,838
Points 45,830
Joined: Feb 2008
Location: Kennesaw
rapid1 replied on Fri, Nov 18 2011 8:30 PM

Taylor they will slay all opponents forthwith

OS:Win 7 Ultimate 64-bit
MB:ASUS Z87C
CPU:Intel(R) Core(TM) i7 4770 ***
GPU:Geforce GTX 770 4GB
Mem:***ingston 16384MB RAM
  • | Post Points: 5
Top 50 Contributor
Posts 2,865
Points 29,645
Joined: Mar 2011
Location: United States, Connecticut

They will build better phones having this company under their belt. I have no doubts that we will continue to see the open factor of Android continue with Google releasing developer models and Samsung, HTC, etc. all producing their respective version of phones. This is certainly going to be good for Motorola's stock holders.

  • | Post Points: 20
Top 10 Contributor
Posts 6,374
Points 80,315
Joined: Nov 2004
Location: United States, Arizona
Moderator

I cant wait for this to happen. I have a moto phone and its one of the best I have had. Google can only make it better. All hail motogoogle!

"Never trust a computer you can't throw out a window."

2700K

Z77 GIGABYTE G1.SNIPER

GIGABYTE GTX670

G.Skill Ripjaws X 16gb PC2133

Antec P280

Corsair H100

Asus Blu-ray burner

Seasonic X650 PSU

Patriot Pyro 128gb SSD

  • | Post Points: 5
Not Ranked
Posts 1
Points 5
Joined: Nov 2011

It seems that everyone is being taken over by google!

Page 1 of 1 (7 items) | RSS