Weil on Lenovo's $2.9 Billion Motorola Mobility Deal
Weil, Gotshal & Manges is advising Lenovo Group Ltd. on its proposed $2.91 billion acquisition of Google Inc.’s Motorola Mobility smartphone unit.
The acquisition was announced just days after Lenovo, the world’s largest personal computer maker, said it would pay $2.3 billion to buy International Business Machines Corp.’s low-end server business.
Both deals are subject regulatory approval, including a possible review by the Committee on Foreign Investment in the United States, which can recommend the president reject foreign acquisitions on national security grounds.
If approved, the acquisition of Motorola Mobility will make Lenovo the world’s third largest maker of smartphones, after Samsung Electronics Co. and Apple Inc.
Google acquired Motorola Mobility in 2011 for $12.5 billion. Under its deal with Lenovo, Google will continue to own a majority of Motorola Mobility’s patents, with the Chinese company receiving a ten-year license to use the company’s technology.
Weil Hong Kong partner Henry Ong, Silicon Valley partners Keith Flaum and Richard Climan are leading a team representing Lenovo that includes Silicon Valley partners John Brockland and Gabriel Gregson, New York partners Jeffrey Osterman, Helyn Goldstein and Paul Wessel and Washington D.C. partner John Scribner.
Cleary Gottlieb Steen & Hamilton is advising Google.