Motorola Mobility stockholders give nod of approval to Google merger
In news that makes you say, “well, DUH”, the stockholders of Motorola Mobility have approved of the company’s merger with Google, with an overwhelming 99% of votes showing in favor. It should also be noted that the total votes represent about 74% of the outstanding shares, as of October 11th. According to CEO of Moto Mobility Sanjay Jha:
We are pleased and gratified by the strong support we have received from our stockholders, with more than 99 percent 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.
Google has mentioned that they intend to allow Motorola to run as its own separate company, with Google’s backings and blessing to keep them in forward motion. The merger should be complete by the end of 2011 or early 2012, and is worth an estimated $12.5 billion.
Source: Android Central