Motorola can't shop itself around before Google buy

According to the terms of the proposed purchase of Motorola Mobility by Google that were released today, Motorola is prohibited from shopping itself around to other potential buyers in an effort to get a higher price. The company had to stop any solicited offers as of August 15, the day that Google announced its intent to buy.

Motorola can, however, entertain unsolicited offers, as part of its duty to shareholders to get the best possible price for the company. Google's purchase price of $12.5 billion was a 63 percent premium over Motorola Mobility's going stock price the day before the purchase was announced.

Not all of Motorola's shareholders are happy with the planned purchase price, though, as one has filed a lawsuit to block the purchase claiming that Motorola was undervalued.

Source:http://www.mobileburn.com/news.jsp?Id=16264