Motorola stockholders approve Google buyout

Motorola stockholders approve Google buyout
It was something of a formality since the deal had been agreed upon in principal already, but the Motorola Mobility stockholders met today and voted to approve the buyout by Google. Of course, this doesn't mean that the deal is free to proceed, because the U.S. Department of Justice is still reviewing the plan.

Motorola Mobility has said that the meeting represented about 74% of total outstanding shares in the company, and that "approximately 99 %" voted in favor of the buyout by Google. That is a pretty overwhelming majority of votes. Still, we'll have to wait and see if the government finds reason why this acquisition shouldn't take place.

The theory is that decision should come sometime next year, but no one is quite sure how long the process will be. But, at least this formality is out of the way. Now we can get back to arguing over whether or not, if this deal goes through, Google is going to suddenly transform into a different company and destroy the entire Android ecosystem by abandoning its long-held stance on openness in order to work exclusively with Motorola. That'll be a fun use of our time.

source: Motorola Mobility

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8 Comments

1. readingthissh1t

Posts: 303; Member since: Jul 20, 2011

--_--` as long as google keeps giving me v.i.p ota's on my future galaxy nexus, i wont care for the next 2 years

2. ljruble

Posts: 16; Member since: Dec 07, 2010

I was told to expect compensation for my shares of motorola by Feb of next year, but it's still just a wait and see thing.

3. blackrose

Posts: 48; Member since: Apr 15, 2011

Awesome

4. ILikeBubbles

Posts: 525; Member since: Jan 17, 2011

lol that DOES sound fun! i LOVE hypothetical drama! lol

5. remixfa

Posts: 14605; Member since: Dec 19, 2008

bahaha.. michael, you beat me to the punchline. Oh how I wish peter was round today for the news. :)

6. jamrockjones

Posts: 345; Member since: Oct 26, 2011

I don't think they'll do anything drastic like that. They make a whole lot of money with all of these manufacturers putting there os out there. Ha, but I bet the next Nexus put out just happens to be made by Motorola.....

7. corporateJP

Posts: 2458; Member since: Nov 28, 2009

It really is a formality.

8. lubba

Posts: 1313; Member since: Jan 17, 2011

I believe DOJ will let this slide through easily.

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