“Today’s announcement marks another important milestone toward the upcoming separation that is expected to benefit Motorola, its stockholders, as well as each company’s respective customers and employees,” said Motorola co-CEO’s Greg Brown and Sanjay Jha, in a joint statement. “We look forward to taking advantage of the opportunities before us as we begin the new year as two independent, publicly traded companies.”
Brown will continue as CEO of Motorola Solutions, while Jha will become CEO of Motorola Mobility. Motorola Solution’s primary businesses will be in systems like communications equipment uses by public safety and emergency workers, barcode scanners, and walkie-talkies.
Motorola stockholders will receive one share of Motorola Mobility stock for every eight shares of Motorola common stock they hold as of December 21, 2010. Immediately after that distribution, Motorola will perform a one-for-seven stock split on Motorola common stock—meaning every seven shares of Motorola common stock will become one share of Motorola Solutions. The Motorola Mobility stock distribution and reverse stock split for Motorola Solutions are intended to lift the share trading price for both companies. Motorola’s shares have been trading for between $7.50 and $8.50 for most of 2010, up from a 25-year low of $2.98 in early 2009.
Motorola originally announced its plans to separate its mobile unit into a separate company back in 2008.
Disclaimer: All information on this news has been compiled from their respective official websites or through public domain sites and leading newspapers. Although, we have taken reasonable efforts to provide you with accurate information, but we assumes no responsibility for the accuracy (or inaccuracy) of the Information and would advise you to verify it from the official product provider. We cannot guarantee that the information on this page is 100% correct. If you would like to advertise on our site please contact us
No comments:
Post a Comment