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Friday, November 18, 2011

Shareholders approve Motorola Mobility merger with Google

Motorola Mobility shareholders have voted to approve the company’s proposed merger with Google, which was first announced in August.

Around 99% of the voting shares at yesterday’s Special Meeting of Stockholders voted in favour of adopting the merger agreement. (That represented approximately 74% of Motorola Mobility’s total outstanding shares of common stock).

Sanjay Jha, chairman and CEO of Motorola Mobility, said “We are pleased and gratified by the strong support we have received from our stockholders, with more than 99% of the voting shares voting in support of the transaction. We look forward to working with Google 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.”

The merger is currently expected to be completed in early 2012.

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Author: The Fonecast
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Categories: Handsets and manufacturers, NewsNumber of views: 728

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