The shareholders of US handset maker Motorola Mobility have given their overwhelming backing for the US$12.5bn acquisition of the company by the internet giant Google.
99% of the shares voting at a special shareholders meeting yesterday backed the…
The shareholders of US handset maker Motorola Mobility have given their overwhelming backing for the US$12.5bn acquisition of the company by the internet giant Google.
99% of the shares voting at a special shareholders meeting yesterday backed the adoption of the merger agreement. This represents approximately 74% of the company’s total outstanding shares on 11 October, according to a Motorola statement.
The company had said previously that it expects completion of the deal by the end of 2011 or in early 2012. But, given the schedule of regulatory filings, it now believes the deal will close in early 2012, towards the end of its initial forecast.
Google and Motorola Mobility are waiting for clearance from Chinese, European and US regulators.
In September, the US Department of Justice issued a second request for information on the acquisition.
