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Motorola Splitting In Two

3/26/2008 08:42:00 AM Eastern

New York — Motorola announced this morning that it will split into two publicly traded companies, separating its mobile devices business from its broadband and mobility solutions concerns.

President Greg Brown said the split “will provide improved flexibility, more tailored capital structures and increased management focus — as well as more targeted investment opportunities for our shareholders.”

Motorola announced in January that it would consider making this move.

The announcement came days after shareholder Carl Icahn filed a lawsuit seeking documents related to the continued poor performance of the company’s mobile business. Icahn is seeking representation on the company’s board.

A conference call with analysts and the media is underway now. Watch for further details.

Scheduler Date: 
Wednesday, March 26, 2008 - 08:42
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