Liberty Media adjusts 3.5% exchangeables following Motorola separation

By Angela McDaniels

Tacoma, Wash., Jan. 5 - Liberty Media LLC made an adjustment to the number and type of shares into which its 3.5% senior exchangeable debentures due 2031 are exchangeable, according to a company news release.

Each debenture is now exchangeable for the exchange market value of 5.2598 shares of Motorola Solutions, Inc. (NYSE: MSI) and 4.6024 shares of Motorola Mobility Holdings, Inc. (NYSE: MMI).

Liberty Media may pay the exchange market value in cash, by delivering the reference shares or in a combination of cash and reference shares.

On Tuesday, Motorola Inc. completed a one-for-seven reverse stock split and renamed itself Motorola Solutions after it separated Motorola Mobility Holdings in a one-for-eight stock distribution.

Liberty Media is a subsidiary of Liberty Media Corp., an Englewood, Colo.-based company that owns interests in electronic retailing, media, communications and entertainment businesses.

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