Motorola Solutions Buys $1.17 Billion of Stock From Carl Icahn

Monday, 27 Feb 2012 10:04 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Motorola Solutions Inc., which split in two a year ago following pressure from investors led by Carl Icahn, said it bought $1.17 billion of its stock from the billionaire investor and some of his affiliates.

As part of the transaction, Vincent J. Intrieri, a director of Icahn Enterprises G.P. Inc., has agreed to resign from the board, Schaumburg, Illinois-based Motorola Solutions said today in a statement.

The company purchased 23.7 million of its common stock at $49.15 apiece, as part of Motorola Solutions’ $3 billion buyback program.

Shares of the maker of radio equipment for emergency workers and scanning devices for retailers fell 0.2 percent to $49.43 on Feb. 24.


© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved