NYSE:MMI – Motorola Mobility Shares Already Up 60% in Pre Market

News is breaking this morning that Google is acquiring Motorola Mobility for an estimated $12.5 billion in cash. ¬†Google is purchasing Motorola Mobility at a 66% premium, making this a huge deal for Motorola Mobility’s stock price (NYSE:MMI).

Already, in pre market trading, Motorola Mobility (MMI) is up a whopping 60% indicating that Motorola Mobility shares (MMI) are going to open up sharply.

Google is clearly making a move to enter the hardware space in order to compete against Apple. ¬†But as I’ve mentioned before, Google hasn’t had the best of luck with hardware and manufacturing their own Android smartphones.

via Google Finance