DOJ wants more info on Google-Motorola deal
The U.S. Department of Justice wants Google (Nasdaq: GOOG) to supply it with more information about its plans to acquire Motorola Mobility (NYSE: MMI), the search giant disclosed Wednesday.
Google wrote in a blog post that the request for more information from DOJ wasn't unexpected. While the company said the request could delay its closing of the $12.6 billion agreement it announced in August, it didn't say how much longer it may take to seal the deal.
"Today we received what is called a 'second request,' which means that the DOJ is asking for more information so that they can continue to review the deal," Google said. "While this means we won't be closing right away, we're confident that the DOJ will conclude that the rapidly growing mobile ecosystem will remain highly competitive after this deal closes. We'll be working closely and cooperatively with them as they continue their review," it added.
News of the extended review had little impact on stock in both Motorola Mobility and Google Thursday morning, but both stocks had dipped slightly. By 11:20 a.m., Motorola Mobility was trading at $37.83, down 7 cents, while Google was trading at $525.78, down $3.06.
For more:
- Time has this story
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