Motorola Stockholders Give The Greenlight For Google Merger

Motorola has just announced that 99 percent of shares voted in favor of their proposed acquisition by Google. Motorola is attempting to move quick to complete the deal but the company still faces a few more hurdles to they will have to jump over. First off, regulatory approval is still needed before anything else can happen and don’t forget the Department of Justice launching an investigation on the proposed merger, which could pose even more problems for Google and Motorola. Just don’t expect the deal to officially go through until early next year.

Motorola recently laid off 5 percent of it’s workforce in an anticipation of the Google acquisition (even thought they deny that was the reason) attempting to bring down operating costs continually hitting the company hard year after year. You can check out Motorola’s full press release down below.

Nov. 17, 2011

LIBERTYVILLE, Ill. – Nov. 17, 2011 – Motorola Mobility Holdings, Inc. (NYSE: MMI) (“Motorola Mobility”) today announced that at the Company’s Special Meeting of Stockholders held today, stockholders voted overwhelmingly to approve the proposed merger with Google Inc. (NASDAQ: GOOG) (“Google”).

Approximately 99 percent of the shares voting at today’s Special Meeting of Stockholders voted in favor of the adoption of the merger agreement, which represented approximately 74 percent of Motorola Mobility’s total outstanding shares of common stock as of the October 11, 2011 record date for the Special Meeting.

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 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.”

As previously announced on August 15, 2011, Motorola Mobility and Google entered into a definitive agreement for Google to acquire Motorola Mobility for $40.00 per share in cash, or a total of approximately $12.5 billion. The Company previously disclosed that it expected the merger to close by the end of 2011 or early 2012. While the Company continues to work to complete the transaction as expeditiously as possible, given the schedule of regulatory filings, it currently believes that the close is expected to occur in early 2012. It is important to note however, that the merger is subject to various closing conditions, and it is possible that the failure to timely meet such conditions or other factors outside of the Company’s control could delay or prevent the Company from completing the merger altogether.

Business Risks

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not limited to, for example, the expected closing date of the transaction. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to the ability of the parties to consummate the proposed transaction and the satisfaction of the conditions precedent to consummation of the proposed transaction, including the ability to secure regulatory and other approvals at all or in a timely manner; and the other risks and uncertainties contained and identified in Motorola Mobility’s filings with the Securities and Exchange Commission (the “SEC”), any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof Motorola Mobility does not undertake any obligation to update the forward-looking statements to reflect subsequent events or circumstances or update the reasons that actual results could differ materially from those anticipated in forward-looking statements, except as required by law.

About Motorola Mobility
Motorola Mobility, Inc. (NYSE:MMI) fuses innovative technology with human insights to create experiences that simplify, connect and enrich people’s lives. Our portfolio includes converged mobile devices such as smartphones and tablets; wireless accessories; end-to-end video and data delivery; and management solutions, including set-tops and data-access devices. For more information, visit motorola.com/mobility.

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  • mattpyles

    Good

    • Jdog25

      Bad for Motoblur, thankfully.

      • HalfwayCrook

        lol, probs quicker updates too! I hope this means Moto Nexy soon. I love moto hardware!

        • Aeires

          I’d put money on Sony having the next Nexus, and Moto a long way off.  Sony has made huge strides in being more Android friendly, and giving a Nexus to Moto too soon wouldn’t go over very well.  It’s supposed to be a shared experience so it’ll happen, just when is the question.

          I’d like to see an Asus Nexus, if they handle a Nexus half as well as the Transformer, it would be the best Nexus yet.

          • http://onlyourfriends.blogspot.com/ Charles Arnold

            Technically the nexus program is a bidding game. So anyone can get it ( as far as i know at least*) as long as they big the most.

            So it really up in the air on who will get it next**. Sony however does have some of the deepest pockets in the business, right next to Samsung, so i wouldn’t be surprised if that happened

            * When they where talking about the biding process they didn’t say anything about people not being able to get it but they might have some requirements i don’t remember
            **As long as they are sincere and are going to let Motorola still operate as a separate company and don’t play favors that is.

  • http://twitter.com/benbaranovsky Ben Baranovsky

    Who’s stoked for the Galaxy Nexus?  ME!

  • KOLIO

    Hopefully,the individuals whose positions were eliminated to accommodate the merger process will have an opportunity to join the company in the future,as needed of course,with a preferential opportunity over other outside candidates,as merit dictates.

  • Daniel

    Because of this I hope Google steps away from Samsung and Motorola can make the next nexus phone or tablet.

    • http://onlyourfriends.blogspot.com/ Charles Arnold

      it not really Google stepping away from Samsung, it is someone has to out bid Samsung. Since the nexus program is a bidding game. And if Google is sincere about how they are going to run Motorola they will still have to bid with their own money and not “googles” money.

      now if that happens is a totally different story though.

  • Justin

    YES!!!!!!!!! MAYBE GOOGLE CAN MAKE A RELIABLE PHONE NOW!!!!!! GTFO SAMSUNG.

  • Unorthodox

    Please Department of Justice, do some justice and don’t stop the merger. Android desperately needs the protection from patent trolls (read Apple and MS).

  • JWellington

    HTC- G1
    HTC- NEXUS ONE
    Samsung – Nexus S
    Motorola – Xoom
    Samsung – Galaxy Nexus
    Motorola????

    • lynyrd65

      you forgot

      Motorola – Droid

      • JWellington

        You are right. How can I forget the most iconic device ever.

        • http://www.facebook.com/tonyperani Anthony Peran

          Yup. 

  • Nate Davidson

    I know separate company, but I mean, come on. With Google’s resources, motorolas experience, AOSP being revived, not only do I think we are looking at potentially super high quality future phones from Moto, but competition will become so fierce, we might even get more affordable super phones. Maybe that projection keyboard with a roll up screen isn’t too mar off.

    • HalfwayCrook

      Yea but is probably too far off

  • http://twitter.com/Bundaaloo Viper

    The Droid RAZR is plain ugly – Samsung galaxy devices are much better.

  • Justin

    I think the Droid razr is sexy and the gnex is ugly… Crazy.

  • jdsingle

    I wish I could be as stoked about Motorola hardware as everyone else. Don’t get me wrong, I owned the OG D1 and loved using it…despite the fact that between two people in my house we probably went through 4-5 of them because of hardware issues (dead screen, wouldn’t even stop looping when the guy at Verizon pulled it out of the box to sell to me, etc.). In addition to how horrible the Moto Q was. Samsung & HTC hardware are SIGNIFICANTLY better than Moto.