Monday, May 21, 2012

Motorola And Google Expect To Close Sale On Wednesday

Motorola today filed paperwork with the U.S. Securities and Exchange Commission indicating that it expects to conclude its sale to Google by Wednesday, May 23. "As the transaction has now received all required regulatory approvals, the companies are moving to close the transaction within two business days," said Motorola. Chinese anti-trust regulators approved the deal over the weekend, though Google had to agree to keep Android open for five years as a condition of winning approval. The deal already has the approval U.S. and European government bodies. Google agreed last August to acquire Motorola for $12.5 billion. Along with Motorola's smartphone and cable box businesses, Google will also acquire some 17,000 patents.

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