Lenovo Group of China is on the verge of clinching a deal to buy
Google Inc.’s (
NASDAQ: GOOG,
Stock Forum)
Motorola unit for around $3 billion, according to a Reuters report.
The report said Lenovo is reportedly in the final stages of negotiations to buy the handset division that includes Moto X and Moto G smartphones as well as a certain patents.
An announcement could come as early as Wednesday.
Google eased 1.4% to $1,106.92, leaving a market cap of $371.3 billion, based on 334.1 million shares outstanding. The 52-week range is $1167.89 and $746.54.