Motorola Mobility shareholders vote in favour of Google merger

22 Nov

The Shareholders of Motorola Mobility have given permission to Google’s proposed buyout, with 99 percent of those that voted in favor of the deal.

Google’s proposed purchase of Motorola Mobility for $12.5bn is a endeavor to support both firms fight patent lawsuits by combining Motorola’s considerable patent portfolio with Google’s financial resources. After all, Motorola’s shareholders have granted approve for the deal, Google and Motorola have to get clearance from the US Department of Justice(DoJ). Motorola’s shareholders turned out in force to vote in favor of the deal, with the strong report that 74 percent of then voted and 99 percent of those in favor of the deal. This high turnout and approval prefigures well for the firms should the DoJ approve the merger, as such solid support should help defuse any tension created by these two firms uniting together.

Sanjay Jha, chairman and CEO of Motorola Mobility said, “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.”

Motorola ingeminates that the company expects to close the deal with Google early in 2012. For Google the deal cannot close too soon, as it faces legal action against the firm’s Android operating system.

Source: theinquirer

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