Google (GOOG) Receives EU Approval to Acquire Motorola Mobility (MMI); Barclays Previews Combined Company

Shares of Google (Nasdaq: GOOG) are trading at $613.20, up $7.29 (+1.20%) and shares of Motorola Mobility (NYSE: MMI) continue to move higher throughout the trading session. MMI's last trade...$39.62, up $0.17 (+0.43%).

The stocks are trading higher on news the two companies received EU merger approval (Google to acquire MMI for $12.5 bln)

Today, Barclays analyst, Anthony J. DiClemente, analyzed what the combined companies could look like.

DiClemente said, "...Pro Forma for MMI, we believe GOOG's 2012E and 2013E y/y revenue growth rates could become ~16% and 15% (from 23% and 19%), respectively, 2012E/2013E PF EPS growth rates would remain relatively unchanged, and 2012E/2013E PF EPS could be $43.84/$52.40."

DiClemente maintains an 'Overweight' rating on Google (NASDAQ: GOOG) and a $700 price target. He remains positive on GOOG' growth profile and volumes remain robust. Valuation multiples remain attractive post merger.

For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.

Shares of Google closed at $605.91 yesterday.

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