Motorola Mobility shareholders approve Google acquisition

The deal still requires clearances from regulators in the U.S. and other countries

Motorola Mobility said Thursday that its shareholders voted overwhelmingly in favor of the proposed acquisition of the company by Google.

About 99 percent of the shares voting at a special meeting on Thursday voted in favor, which represented about 74 percent of Motorola's total outstanding shares of common stock as of Oct. 11, the company said.

Google and Motorola said in August that they had entered into a definitive agreement for Google to acquire Motorola for about US$12.5 billion.

Motorola expects the merger to close in early 2012, but cautioned that it could be delayed or prevented by delays in meeting closing conditions or factors outside the company's control.

The company had previously said that it expected the merger to close by the end of 2011 or early 2012.

The U.S. Department of Justice asked Google for more information about its planned purchase of Motorola, Google said in September. The so-called "second request" from the DOJ, asking for more details with which to evaluate the deal, could potentially slow down the transaction.

Motorola said in a filing in September that the two companies plan to file for pre-closing antitrust clearances for the merger in a number of jurisdictions including Canada, China, Israel, Russia, Taiwan and Turkey, in addition to the filings in the U.S. and before the European Commission.

Motorola Mobility reported last month a net loss of $32 million on net revenue of $3.26 billion for the third quarter. It had posted a similar loss in the same quarter last year.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags business issuesMobile OSessmartphonesMotorola MobilityinternetmobileInternet service providersMergers and acquisitionssearch enginesGoogleconsumer electronics

Struggling for Christmas presents this year? Check out our Christmas Gift Guide for some top tech suggestions and more.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

John Ribeiro

IDG News Service

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Shopping.com

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?