Motorola caving to pressure; Icahn vows to continue proxy fight
In an apparent move to assuage dissident shareholder Carl Icahn, Motorola announced that it would spin off its troubled mobile cell phone business, effectively splitting Motorola into two publicly traded companies.
Icahn stills believes that Motorola is moving too slow and has vowed that he will continue his proxy fight for four board seats. As Seeking Alpha reports…
“What Icahn wants to know is: Why will it take until “sometime in 2009″? Why do you only listen to threats? And will you keep your word?”
For further coverage, click here for The Wall Street Journal and here for Reuters.
