Motorola Mobility Faces Suit Over $12.5 Billion Google Sale
Found on Bloomberg Businessweek on Wednesday, 17 August 2011
Motorola Mobility Holdings Inc. and its chief executive officer, Sanjay Jha, were sued by a shareholder claiming they failed to get the best price when they agreed to sell the company for $12.5 billion to Google Inc.
Google, the biggest maker of smartphone software, agreed to purchase Motorola Mobility in a transaction that would pay Motorola shareholders $40 a share in cash, or 63 percent more than the stock's closing price on Aug. 12.
That's why I don't like the stock market: it's all about greed. Google already paid 63% more than what each share is worth, but that guy is still not satisfied. Perhaps it would have been better to let Motorola continue on its own and go down in flames, burning all his money, leaving him with nothing.