S&P 500
7,385.40
-1.46%
Dow Jones
0.00
+0.00%
Nasdaq 100
0.00
+0.00%
Russell 2000
2,954.42
-1.70%
FTSE 100
10,388.20
-0.60%
Nikkei 225
0.00
+0.00%

Investing

Motorola Solutions Buys Back Icahn Shares (MSI)

Photo of Paul Ausick
By Paul Ausick Published

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.

Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Jon C. Ogg |

Navistar Board Capitulation Deemed a Real Victory

Navistar International Corp. (NYSE: NAV) may still want to remain an independent company, but the troubled truck and engine maker…

Douglas A. McIntyre |

Icahn Wastes His Time And Money With Motorola (MOT)

It is hard to imagine what Carl Icahn is trying so hard to get control of Motorola (NYSE: MOT), or…

Douglas A. McIntyre |

Motorola (MOT) Caves To Icahn Who May Find Little Value Left

Carl Icahn and friends will get two seats on the Motorola (MOT) board, ending fight by the company to keep…

Douglas A. McIntyre |

Motorola Needs Icahn

Institutional Shareholder Services, proxy advisory service, thinks that flagging cell phone and telecom equipment company Motorola (MOT) needs Carl Icahn…

Douglas A. McIntyre |

Dynegy Board: A Conflict Of Interest

Electric energy provider Dynegy (NYSE: DYN) has been through a great deal recently. It threatened to file Chapter 11. The…

Douglas A. McIntyre |

Icahn May Take Another Run At Motorola (MOT)

Carl Icahn may not be done with pushing the Motorola (MOT) board to work on increasing the company’s share price.…

Douglas A. McIntyre |

Motorola’s Best Strategy: Getting Icahn To Buy More (MOT)

Carl Icahn has disclosed in an 13D SEC FILING that he boosted his share ownership in Motorola Inc. (NYSE: MOT). …

Douglas A. McIntyre |

Carl Icahn Will Oust Motorola’s Ed Zander

"I love my job. I hate my customers." What a quote from Motorola (MOT) CEO Ed Zander, picked up by…

Douglas A. McIntyre |

Motorola Should Invite Mr. Icahn In

Motorola (NYSE:MOT) opposes investor Carl Icahn’s bid to join its board. He is pretty annoying buy it would appear that…

Top Gaining Stocks

Super Micro Computer
SMCI • Vol: 128,836,317
ON Semiconductor
ON • Vol: 12,044,310
Corning
GLW • Vol: 18,574,393
Micron Technology
MU • Vol: 53,140,821
AbbVie
ABBV • Vol: 9,912,803

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Moderna
MRNA • Vol: 8,363,487
Palantir
PLTR • Vol: 56,918,231
Verisign
VRSN • Vol: 1,691,263
Chipotle Mexican Grill
CMG • Vol: 18,457,730