Justice Department Gives Thumbs Up to Microsoft-Nokia Deal
The Department of Justice has granted its blessing to Microsoft’s acquisition of Nokia.
A Federal Trade Commission filing released today confirmed the DOJ’s approval of Microsoft’s proposed $7.2 billion bid to buy Nokia’s devices and services division as well license Nokia’s patents.
Last month, Nokia shareholders voted almost entirely in favor of the deal.
With DOJ approval earned and shareholders on board, Microsoft and Nokia still need to pass muster with the European Union. Reuters cited people familiar with the matter who said the EU is primed to give its unconditional regulatory approval to the acquisition.
A breakdown of the deal finds Microsoft spending $5 billion for Nokia’s handset division and $2.17 billion for the company’s patents.
Microsoft’s stock is up almost one percent as of 3:15 p.m. CT.