GOOGLE BUYS MOTOROLA MOBILITY
In a move to boost its Android mobile phone software, Google Incorporated has announced that it will buy Motorola Mobility Holdings Incorporated for about $12.5 billion U.S. dollars in cash.
The deal was confirmed on Monday, which the search engine company is paying $40 dollars a share for Motorola Mobility Holdings Incorporated, a premium of 63% over its closing price on Friday. Google said that the move will help the company to keep pace with Apple. As for the response from the stock market, Google's stock fell about 3% in premarket trading while Motorola's rose more than 60%.
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