Google-Motorola Mobility $12.5 Billion Deal Will Close Within Next Two Days, Says Motorola Mobility

Posted on May 21 2012 - 2:38pm by Editorial Staff

The Chinese authority over the weekend approved Google’s $12.5 billion Motorola Mobility acquisition and today Motorola Mobility filed an 8-K form that notes that it will close in the next two days. Going back to the story, after suspending the hearings by EU regulators early last December to seek more information about Google’s acquisition of Motorola Mobility, the commission set February 13 as a deadline for the mulling the deal – and both European Commission as well as U.S. Department of Justice approved Google’s proposed acquisition of Motorola Mobility.

Motorola’s statement today noted that the approval from the Anti-Monopoly Bureau of the Ministry of Commerce of China came on May 19, 2012.  ”As the transaction has now received all required regulatory approvals, the companies are moving to close the transaction within two business days,” it notes. Although to note here is that Motorola’s statement to the market today does not cover restructuring.

Motorola said over the business risks:

Motorola Mobility cautions the reader that this communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not limited to, the expected closing date of the proposed Google transaction. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements including, but not limited to, the ability of the parties to consummate the proposed transaction and the satisfaction of the conditions precedent to consummation of the proposed transaction; and the other risks and uncertainties contained and identified in Motorola Mobility’s filings with the Securities and Exchange Commission (the “SEC”), any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. Motorola Mobility undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances or update the reasons that actual results could differ materially from those anticipated in forward-looking statements, except as required by law.

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