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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags mobilesmartphonesMergers and acquisitionsinternetbusiness issuesGooglesearch enginesconsumer electronicsInternet service providersMobile OSesMotorola Mobility

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

John Ribeiro

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?