Mergers and Acquistions News
Categories: Telecoms
September 16th 2011, 17:04PM
Google raised its Motorola takeover bid to £12.5 billion (£7.9 billion) by outbidding itself according to a filing posted this week.
The internet company already made a bid of $37 a share for the mobile manufacturer on August 1st, but ultimately offered $40.
This represents a 60 per cent premium over the share price, despite no other company bidding at the time.
It also announced the acquisition of over 1,000 IBM patents, in an effort to reinforce the bid and protect itself from rivals' legal threats.
Writing on the official Google blog on the event of the Motorola acquisition, chief executive Larry Page explained that the mobile manufacturer would be run as a separate organisation and that he hoped it would improve its Android brand.
"Our acquisition of Motorola will increase competition by strengthening Google’s patent portfolio, which will enable us to better protect Android from anti-competitive threats from Microsoft, Apple and other companies," he remarked. 
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