Uploaded by FinancialNewsOnline on Nov 18, 2011
Motorola Mobility Holdings (NYSE:MMI) announced that stockholders voted overwhelmingly to approve the proposed merger with Google (NASDAQ:GOOG). Approximately 99% of the shares voting at the special meeting of stockholders voted in favor of the adoption of the merger agreement, which represented approximately 74% of Motorola Mobility's total outstanding shares of common stock as of Oct. 11. Google 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.
Motorola Mobility Holdings (NYSE:MMI) has potential upside of 1.5% based on a current price of $38.94 and an average consensus analyst price target of $39.54.
Motorola Mobility Holdings (NYSE:MMI) has potential upside of 1.5% based on a current price of $38.94 and an average consensus analyst price target of $39.54.
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