Google Inc (GOOG.O) will purchase phone hardware maker Motorola Mobility Holdings Inc (MMI.N) for $12.5 billion to bolster adoption of its Android mobile software and compete with smartphone rival Apple Inc (AAPL.O). In its biggest deal to date, Google said it would pay $40 per share in cash, a 63 percent premium to Motorola Mobility's Friday closing price on the New York Stock Exchange. "What it says is that Google wants to provide a total experience that's hardware and software (like Apple)," said BGC Partners analyst Colin Gillis. Shares of Motorola Mobility, which focuses on smartphone and TV set-top boxes, jumped 59 percent on Monday.
Google Inc. (Google) is focused on improving the ways people connect with information. Shares of GOOG fell by 1.16% or $-6.527/share to $557.24. In the past year, the shares have traded as low as $447.65 and as high as $642.96. On average, 3353060 shares of GOOG exchange hands on a given day and today's volume is recorded at 958410.
Motorola Mobility Holdings, Inc. is a provider of technologies, products and services that enable a range of mobile and wireline digital communication, information and entertainment experiences. Shares of MMI traded higher by 57.01% or $13.95/share to $38.42. In the past year, the shares have traded as low as $20.77 and as high as $36.54. On average, 4288420 shares of MMI exchange hands on a given day and today's volume is recorded at 27793756.
Apple Inc. (Apple) designs, manufactures and markets a range of personal computers, mobile communication and media devices, and portable digital music players, and sells a range of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 0.86% or $3.23/share to $380.22. In the past year, the shares have traded as low as $235.56 and as high as $404.50. On average, 17957500 shares of AAPL exchange hands on a given day and today's volume is recorded at 1402796.
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