The other Motorola company, Motorola Solutions Inc. (NYSE: MSI) has said that it will buy back nearly 24 million shares of its stock from Carl Icahn at $49.15/share. The total value of the buyback is about $1.17 billion. Shares closed at $49.43 last Friday.
As part of the arrangement, Icahn will also lose the board seat held by Vincent J. Intrieri, who was Icahn’s appointment to the board. Motorola Solutions will not replace Intrieri, but instead will reduce the number of board members from nine to eight.
Motorola Solutions’ shares are down more than -4% in the premarket this morning at $47.31 in a 52-week range of $37.49-$51.06.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
