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Monday, February 3, 2014

Google executive chairman expects U.S. approval of Lenovo-Motorola deal, (NASDAQ: GOOG)

Google Inc Executive Chairman Eric Schmidt expressed confidence on Monday that Lenovo Inc would gain approval from U.S. regulators to purchase Google's Motorola smart-phone hardware business in what would be China's biggest technology acquisition to date. Schmidt said he saw "a good chance" of the deal passing muster with the Committee on Foreign Investment in the United States, which monitors acquisitions by overseas corporations.Speaking at a dinner organized by the Cato Institute think tank, Schmidt said Lenovo's previous experience buying IBM's ailing personal computer division in 2005 would stand it in good stead as it seeks the green light to acquire Motorola for about $2.91 billion.

Google Inc. (Google) is a global technology company. Shares of GOOG fell by 4.03% or $-47.5399/share to $1133.43. In the past year, the shares have traded as low as $758.50 and as high as $1186.54. On average, 1901570 shares of GOOG exchange hands on a given day and today's volume is recorded at 4575602.