A regulatory filing released by Motorola Mobility reveals that Google’s bid for the mobile maker increased by 33% prior to being accepted, thought to be driven by the company’s impressive patent portfolio, Bloomberg reports.
Before Google sealed the $12.5 billion acquisition, the search giant originally made an offer of $30 per share, an offer that Motorola Mobility’s advisers immediately countered with word that it was seeking $43.50 per share. As a result, Google upped its bids to $37 on August 9, increasing it further to $40 the same day, a filing with the U.S. Securities and Exchange Commission reveals. READ THE FULL ARTICLE: TNW
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