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Tony Avelar/Bloomberg NewsFrank Quattrone, chief of Qatalyst Partners.

It took less than seven weeks, but it became more expensive quickly. From the first discussions in early July to a formal announcement on Aug. 15, Google moved swiftly this summer to secure a $12.5 billion takeover of Motorola Mobility, according to a filing submitted on Tuesday. The search giant, which was eager to own Motorolas extensive patent portfolio, was also willing to pay up. Article Tools Facebook Twitter Google+ E-mail Share Print Related Links The S.E.C. filing Google to Buy Motorola Mobility After floating an initial bid of $30 a share on Aug. 1, Google raised its offer price to $37, before settling at $40 a share. In just weeks, the offer increased by more than $3 billion. For that, Motorola can thank Frank P. Quattrone, whose investment bank was hired on Aug. 1.

The filing, which maps out the background of the merger, discloses how the deal came together in the wake of Googles failed bid for Nortels patent portfolio. In early July mere days after Google lost out to a consortium led by Apple and Microsoft Andrew Rubin, the companys senior vice president of mobile, reached out to Sanjay Jha, the chief executive of Motorola Mobility, to discuss the possible impact of and potential responses to the Nortel purchase. Over the next several days, discussions intensified, roping in more executives, including Googles chief, Larry Page, and Nikesh Aurora, the companys chief business officer. And by mid-July, the parties had agreed to a confidentiality agreement, as Google began due diligence on Motorola Mobilitys patent portfolio. Although talks initially centered on Motorolas patents, the focus quickly shifted to takeover talks. On July 28, Google said it would entertain a bid in the range of high $20s to low $30s. On Aug. 1, it came back with a formal letter and a $30 offer. Enter Mr. Quattrone. On that day, Motorola Mobility hired Mr. Quattrones Qatalyst Partners and Centerview Partners to serve as financial advisers. According to the filing it was Qatalyst, which has recently advised some of the largest takeover transactions in the technology sector, that prodded Google to go higher. On Aug. 5, after a telephone meeting with Motorolas directors, an unidentified Qatalyst representative contacted Googles chief legal officer to reject the $30 per share offer and suggested that Google increase its proposed price to $43.50 per share. On Aug. 9, Google came back with $40 a share. At the tail end of the process, Motorola Mobilitys board considered seeking other buyers, but ultimately concluded that it was preferable to negotiate on a confidential basis with a single potential acquirer, rather than to conduct a private or public auction. Six days later, the deal was done. Tags Centerview Partners, Frank P. Quattrone, Google+, Motorola, Qatalyst Partners Related Articles
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