May 26, 2013 | 09:23 AM (BD Time)
26 May, 2013 Sunday
Google to buy Motorola Mobility
Internet giant Google has announced a deal to buy Motorola Mobility for $12.5bn (£7.7bn).
A joint statement said the boards of both companies had unanimously approved the deal, which should be completed by the end of this year, or early in 2012.
Earlier this year, Motorola split into two separate companies.
Mobility develops and manufactures mobile phones, while Motorola Solutions covers wider technologies for corporate customers and governments.
Shares in Motorola Mobility jumped 56% by the close of trading in New York on Monday, to $38.13, still below the offer price of $40 per share. Shares in Google fell 1.8%.
Meanwhile, Nokia shares listed in New York had jumped 17% by the end of trading on news of the deal, with renewed speculation that the Finnish mobile phone company could become a bid target itself, with Microsoft a likely suitor.
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