Motorola Stockholders Approve Google Merger
On August 15, Google and Motorola announced a $12.5 billion deal where Google would acquire Motorola Mobility. It was now time for the stockholders to give their blessings and they did. No surprise there!
Around 99% of the voting shares approved the Google merger, which represent “74 percent of Motorola Mobility’s total outstanding shares of common stock as of the October 11, 2011 record date for the Special Meeting.” While not a 100% approval, the merger ticked out one of the possible road bumps in the way of the deal. While Motorola has set out a target for the merger to close by the end of 2011 or early 2012, there are still some regulatory issues to be ticked out from the list before the deal is completely closed.
Just to clarify any doubts, Google publicly stated at the time that “this acquisition will not change our commitment to run Android as an open platform. Motorola will remain a licensee of Android and Android will remain open. We will run Motorola as a separate business”.