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Motorola Stockholders Approve Google Acquisition

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Nov 18, 2011, 7:51 AM by Eric M. Zeman

Motorola Mobility's stockholders have approved the company's plans to be acquired by Google. Of those voting at Thursday's meeting, 99% were in favor of the deal, representing about 74% of the total number of shareholders. 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." The deal was first announced in August, and still needs to pass regulatory approval.

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