Photo: Flickr/Fernando Braga
In a move that probably redefines “chutzpah”, a Motorola shareholder is suing the company and its CEO Sanjay Jha because he thinks Google didn’t pay enough for the company, BusinessWeek reports.Reminder: Google bought Motorola for a 63% premium over the company’s stock price. 60-three per cent.
And it’s not like Motorola’s stock was aberrantly low because of a market crash or something. .
Most industry observers agree that its Android phones aren’t as good as Samsung’s or HTC’s (even though only a few years ago HTC was a no-name Taiwanese OEM).
For the past years, Motorola has had slow revenue growth and low margins.
But let’s not kid ourselves: Google’s buy is an absolute godsend for Motorola shareholders.