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Motorola Mobility Shareholder Sues on Heels of Google Deal
Posted By Sonya Donaldson On August 22, 2011 @ 10:22 am In Hardware,Smartphones and PDAs,Tablets and eReaders | No Comments
Fresh on the heels of Google ’s announcement that it will acquire Motorola Mobility  (MMI) comes, you guessed it, a lawsuit. Motorola Mobility shareholder John W. Keating filed suit against Motorola Mobility and CEO Sanjay Jha in a Chicago court and is seeking class-action status. According to Keating, the $12.5 billion offered by Google does not even come close to the company’s “intrinsic value.”
Critics of the suit, however, say Keating’s case might not have merit. In addition to the price tag, which is roughly a 63 percent premium on MMI shares (about $40 per share), Google has also agreed to pay Motorola $2.5 billion in a “break-up fee” if regulators don’t approve the deal. This isn’t exactly a losing proposition for Motorola’s shareholders, some would say.
Read more at Venture Beat .
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URL to article: http://technology.inc.com/2011/08/22/motorola-mobility-shareholder-sues-on-heels-of-google-deal/
URLs in this post:
 Google: http://www.google.com/about/corporate/company/
 Motorola Mobility: http://www.motorola.com/Consumers/US-EN/Home
 Venture Beat: http://venturebeat.com/2011/08/18/motorola-mobility-sued-by-shareholder-over-google-deal/
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