Google (GOOG), Motorola (MMI) Gain Antitrust Clearance for Proposed Merger
Tweet
Share
E-mail
Get Alerts GOOG Hot Sheet
Join SI Premium – FREE
Google (Nasdaq: GOOG) and Motorola Mobility (NYSE: MMI) received approval from U.S. and European regulators Monday for the proposed $12.5 billion combination.
Announced last August, the deal has Google paying $40 per share for Motorola.
Motorola popped earlier on the day following reports the company and Google received European Commission approval. The EU approved the deal, but said it would closely monitor developments moving forward to ensure Google and Motorola don't cross over into antitrust territory.
The combination will probably put a little more pressure on Apple (Nasdaq: AAPL). In the past, Google has relied solely on having to distribute it's Android mobile operating system via external smartphone vendors, gaining it chunks of smartphones and tablet market share, but leaving share prices rather flat overall. Shares have, after all, been above current levels both last summer and winter of 2010.
Meanwhile, Apple shares are continuing to rip higher, past the $500 price level and now boasting a market cap equivalent to that of Google and peer Microsoft (Nasdaq: MSFT) combined.
Google shares ended Monday up about 1 percent while Motorola shares were 0.5 percent better.
Announced last August, the deal has Google paying $40 per share for Motorola.
Motorola popped earlier on the day following reports the company and Google received European Commission approval. The EU approved the deal, but said it would closely monitor developments moving forward to ensure Google and Motorola don't cross over into antitrust territory.
The combination will probably put a little more pressure on Apple (Nasdaq: AAPL). In the past, Google has relied solely on having to distribute it's Android mobile operating system via external smartphone vendors, gaining it chunks of smartphones and tablet market share, but leaving share prices rather flat overall. Shares have, after all, been above current levels both last summer and winter of 2010.
Meanwhile, Apple shares are continuing to rip higher, past the $500 price level and now boasting a market cap equivalent to that of Google and peer Microsoft (Nasdaq: MSFT) combined.
Google shares ended Monday up about 1 percent while Motorola shares were 0.5 percent better.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Holcim to acquire Fermacell from James Hardie for EUR 840M
- T. Rowe Price to acquire F/m Investments in fixed income push
- Hertz Global amends voting agreement with CK Amarillo after lawsuit
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsRelated Entities
Motorola Mobility/GoogleSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
