Wednesday, February 28, 2007

Icahn Files Notification To Acquire More Motorola (MOT) Stock

Motorola, Inc. (NYSE: MOT) just issued a press release confirming the receipt of notice from certain Carl Icahn entities of their filing notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 to acquire additional shares of Motorola Common Stock.

The notice states that Carl Icahn and Icahn Partners LP are each filing to acquire in excess of $119.7 million and up to $500 million of Motorola Common Stock, while Icahn Partners Master Fund LP and Icahn Partners Master Fund II L.P. are each filing to acquire in excess of $500 million, but less than 25% of the outstanding, Motorola Common Stock.

NOTE: Icahn is looking to be nominated to the company's board and wants a large share buyback.

Photo from Forbes, via AP

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