Stockholders of record as of October 11, 2011 were invited to the special meeting held in California for the vote. An overwhelming 99% of the shares voting at the special meeting voted in favor of the merger agreement.
Sanjay Jha, chairman and CEO of Motorola Mobility, said, “We are pleased and gratified by the strong support we have received from our stockholders, with more than 99 percent of the voting shares voting in support of the transaction. We look forward to working with Google to realize the significant value this combination will bring to our stockholders and all the new opportunities it will provide our dedicated employees, customers, and partners.”
Google and Motorola announced on August 15, 2011 the proposed $12.5 billion dollar buy out of Motorola Mobility Inc by Google Inc.
Although Motorola Mobility’s stockholders have approved the merger, it’s still pending regulatory approval. Both companies are confident that the merger will close in the early part of 2012.