Motorola Mobility stockholders back sale to Google

Motorola Mobility stockholders on Thursday overwhelmingly endorsed selling the company to Google in a deal valued at $12.5 billion.

Approximately 99 percent of the votes cast at a special meeting of stockholders were in favor of the takeover, according to Motorola Mobility.

"We are pleased and gratified by the strong support we have received from our stockholders," said Motorola Mobility chief executive Sanjay Jha.

"We look forward to working with 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," he added.

The has asked for more time to review the acquisition but Google expected it would get a green light from regulators. Motorola Mobility expected the to be completed by the middle of next year.


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(c) 2011 AFP

Citation: Motorola Mobility stockholders back sale to Google (2011, November 18) retrieved 19 August 2019 from https://phys.org/news/2011-11-motorola-mobility-stockholders-sale-google.html
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