Motorola holders approve acquisition by Google

Last Updated: Friday, November 18, 2011 - 09:17

Bangalore: Motorola Mobility Holdings Inc said late on Thursday that its stockholders approved the USD 12.5 billion deal to be acquired by the search giant Google Inc.

Motorola, which was one of the two parts split from Motorola Inc, said that 99 percent of the shares that were voted, voted in favor of the USD 40 per share deal. The shares represented about 74 percent of the company's total outstanding shares.

In August, Google said it will buy the handset device manufacturer in its biggest deal ever, paying a steep premium of 63 percent.

Libertyville, Illinois-based Motorola's shares closed at USD 38.94 on Thursday on the New York Stock Exchange while shares of Google closed at USD 600.87 on Nasdaq.

Bureau Report

First Published: Friday, November 18, 2011 - 09:17

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