BULLETIN MOTOROLA TO SEPARATE MOBILE-DEVICES ARM FROM INFRASTRUCTURE BUSINESS
Motorola to split into two companies
By Steve Gelsi
Last update: 7:42 a.m. EDT March 26, 2008Print RSS Disable Live Quotes
NEW YORK (MarketWatch) -- Motorola Inc. (MOT:Motorola, Inc
MOT 9.76, +0.07, +0.7%) on Wednesday said its board of directors OK'd a plan to break the conglomerate into two independent, publicly-traded companies. One company will focus on its mobil devices business, and the other will specialize in broadband and mobility solutions. Based on current plans, the creation of the two stand-alone businesses is expected to take the form of a tax-free distribution to Motorola's shareholders, subject to further financial, tax and legal analysis. "Our decision to separate our Mobile Devices and Broadband & Mobility Solutions businesses follows a review process undertaken by our management team and Board of Directors, together with independent advisors," said Greg Brown, Motorola's president and chief executive officer. "Creating two industry-leading companies will provide improved flexibility, more tailored capital structures, and increased management focus - as well as more targeted investment opportunities for our shareholders." Community
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