Motorola Mobility Shares Jump 60% In Pre-Market On Acquisition News

Google Inc GOOG announced its plans to buy Motorola Mobility Holdings Inc MMI for $12.5 billion in cash. Google will pay $40 per share for Motorola Mobility, representing a 63% premium to Motorola Mobility's closing price on Friday. The deal has been approved by the boards of directors of both the companies. MMI shares jumped 60.20% to $39.20 in pre-market trading, while GOOG shares dropped 2.44% to $549.99 in pre-market trading.