Motorola Mobility Acquisition Will Close This Week
Over the weekend, Google was given clearance from the Chinese government to acquire Motorola Mobility for $12.5 billion. Today Motorola Mobility filed an 8-K form that says the deal will be closed in the next couple of business days. Next a “listening tour” will take place where new management will visit the whole operation. They will see what everyone does and make decisions. One of the biggest decisions could be headcount reduction, which would effect as high as 30% of Motorola’s staff.
An approval from the Anti-Monopoly Bureau of the Ministry of Commerce of China arrived on May 19th. “As the transaction has now received all required regulatory approvals, the companies are moving to close the transaction within two business days,” said the note.
It is unknown who will head up Motorola’s operations after the acquisition is complete. Google had head of Americas, Dennis Woodside, oversee the merger. Rumor has it that Google’s Chief Business Officer Nikesh Arora will lead the operations.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry