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Icahn, affiliates own more than 6% of Motorola
By Lisa Kerner
Charlotte, N.C., March 5 - Investors led by Carl C. Icahn bought 28,072,900 shares of Motorola Inc. stock, increasing their ownership interest in the company to 6.3% from 5%.
The shares were acquired between Feb. 28 and March 5 priced from $9.67 to $10.50, it was reported in a schedule 13D filing with the Securities and Exchange Commission.
Icahn beneficially owns more than 142.36 million shares of the Schaumburg, Ill.-based communications company.
In February, Icahn and his affiliates nominated four individuals for election to the company's board of directors at the 2008 annual meeting.
Icahn's nominees are:
• Frank Biondi, Jr. former president and chief executive officer of Viacom, Inc. and a director of several companies including Amgen Inc., Cablevision Systems Corp., Hasbro, Inc., and the Bank of New York Co.;
• William R. Hambrecht, founder, chairman and CEI of WR Hambrecht & Co.;
• Lionel C. Kimerling, the Thomas Lord Professor of Materials Science and Engineering at Massachusetts Institute of Technology and director of the MIT Materials Processing Center; and
• Keith Meister, managing director of the Icahn investment funds, CEO/principal executive officer of Icahn Enterprises and a director of XO Holdings, Inc., WCI Communities, Inc. and Federal-Mogul Corp.
In November, Icahn suggested that Motorola split into separate companies: a mobile devices company, an enterprise mobility company, a connected home company and a company focused on mobile networks infrastructure.
On Jan. 31, Motorola announced it was considering separating its mobile devices business from its other businesses.
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