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Motorola Mobility Shareholder John W. Keating Sues Over $12.5 Billion Google Sale

Motorola Mobility Ceo Sanjay Jha

First Posted: 08/18/11 02:44 PM ET Updated: 10/18/11 06:12 AM ET

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Bloomberg Businessweek:

Motorola Mobility Holdings Inc. and its chief executive officer, Sanjay Jha, were sued by a shareholder claiming they failed to get the best price when they agreed to sell the company for $12.5 billion to Google Inc.

Read the whole story: Bloomberg Businessweek

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SwingingFromCenter
455 Fans
07:54 PM on 08/19/2011
Completely frivolous suit brought about by someone hoping to score a little settlement before the sale goes through.  Google paid a 63% premium for Motorola's Mobility, which is significantly higher than the average 38% for similar acquisitions.  Motorola negotiated a great price, and the sale will go through.  Hopefully, Google plays hardball with this guy and squ.ashes him like the bug that he is.
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SagaciousA
7 Fans
07:25 PM on 08/18/2011
"Google, the biggest maker of smartphone software, agreed to purchase Motorola Mobility in a transaction that would pay Motorola shareholders $40 a share in cash, or 63 percent more than the stock’s closing price on Aug. 12."

How is 63% more than your share closed for not valuing it high enough? Google was ripped for overpaying.
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HUFFPOST COMMUNITY MODERATOR
SoCalNick
Former 99er, Business Owner, Proud Veteran 101st
2029 Fans
05:57 PM on 08/18/2011
HP CORRECT THE HEADLINE!!

He is NOT Suing FOR 12.5 Billion

He is still an 1d!ot but at least get it right.

Who WOULDN'T be upset for only a 63% Premium on the price ughhhh.

I hope the judge falls over laughing.

That is all
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HUFFPOST SUPER USER
wespenn56
Conservative does start with "CON"
510 Fans
03:53 PM on 08/18/2011
He's receiving 63% OVER the closing price and he's upset? You've got to be kidding...
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HUFFPOST SUPER USER
apathyman
Let them hate, so long as they fear
158 Fans
03:49 PM on 08/18/2011
Some people are just plain greedy
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HUFFPOST COMMUNITY MODERATOR
J0E1
Phil Hill 2012
682 Fans
02:43 PM on 08/18/2011
Wow.  Someone file this guys name in Merriam-Webster under GREED.
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