Motorola: Just waiting on China for the Google acquisition, hoping to close by July

Motorola Mobility in its first-quarter earnings statement released today gave a brief update on the not-quite-complete acquisition by Google. The $12.5 billion deal has been approved by the U.S. and other nations, with China apparently the lone holdout.

Motorola says it still expects the deal to be finalized in the first half of this year, so it's got two months to go as of now.

Said Motorola:

As previously announced on August 15, 2011, Motorola Mobility and Google Inc. ("Google") (NASDAQ: GOOG) entered into a definitive agreement for Google to acquire Motorola Mobility for $40.00 per share in cash, or a total of approximately $12.5 billion.Motorola Mobility and Google continue to work closely with the authorities in China for approval on the acquisition. The transaction has been investigated and cleared without conditions in all other jurisdictions with pre-closing clearance requirements. We continue to expect the transaction to close during the first half of 2012.

Source: Motorola

Phil Nickinson