Back in August Google and Motorola Mobility declared their intentions to merge. The deal will cost Google $12.5 billion once complete and will land the search giant the hardware maker to go its popular OS. The merger deal has hurdles left to clear yet, but it is one-step closer to a done deal now.
Motorola Mobility shareholders have now approved the merger deal at the $12.5 billion offer. Motorola held a special meeting of stockholders that voted to accept the merger or not. Motorola reports that 99% of those voting at the meeting approved of the merger. There were enough shareholders on hand to account for about 74% of outstanding Motorola Mobility shares.
Google and Motorola still need to clear other regulatory issues before the merger is final. The two firms are aiming at the end of 2011 or early in 2012 to have the merger complete. At this point Motorola notes that early in 2012 is more likely for completion. The time frame could grow as well if other regulatory issues arise and other closing conditions can’t be met.