Google aiming to close Motorola deal by May 23

Google is planning to complete its $12.5 billion acquisition of cell phone maker Motorola Mobility Holdings before Wednesday.

Motorola outlined the timetable in documents it filed Monday following Saturday's approval of the deal by regulators in China. That approval removed the final hurdle preventing Google from closing the biggest deal in its 14-year history.

The two companies announced the deal nine months ago.

Google Inc. prizes Motorola Mobility Holdings Inc. for its portfolio of more than 17,000 patents.

Owning the rights to those patents will provide Google and the mobile device makers who rely on its Android software with valuable weapons in an intellectual arms race with Apple Inc., Microsoft Corp. and other technology giants.

But investors are worried Motorola's business making phones will trim Google's profit margins