Icahn Set To Buy More Motorola Shares

Billionaire investor Carl Icahn, already a leading shareholder in Motorola, and several of his funds have filed to buy more than $2 billion, or 4.4 percent, of the company’s common stock. Motorola said yesterday it had received the required regulatory notice that Carl Icahn and Icahn Partners LP are each filing to acquire $120 million to $500 million of Motorola stock while two related entities — Icahn Partners Master Fund LP and Icahn Partners Master Fund II LP — filed to acquire in excess of $500 million but less than 25 percent of outstanding shares. The purchase would make Icahn the handset manufacturer’s second biggest institutional holder. (Via Reuters.)

Comments have been disabled for this post