By Vikram Sethi
At Motorola Mobile Holdings special meeting, stockholders voted in favor to approve the proposed merger with Google. Roughly 99 per cent of the shares voting at meeting voted in favor of the adoption of the merger agreement, which represented approximately 74 per cent of Motorola Mobility’s total outstanding shares of common stock as of the October 11, 2011 record date for the Special Meeting.
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 in August this year. The closing of the merger is expected to occur in early 2012, subject to customary closing conditions.