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 4/10 Good --- dealscape.thedealblogs.com http://www.thedeal.com/dealscape/atom.xml
Wednesday, April 02, 2008 --- 112 days ago http://www.thedeal.com/dealscape/2008/04/dealwatch_carl_icahn.php
 Carl Icahn is finally seeing some results from his longstanding activist campaign at Motorola Inc., nearly 15 months after first revealing his stake in the company. If the first quarter of 2008 is any indication, Icahn's dealmaking activity looks poised to kick along through the year with the same momentum it had in 2007. Motorola unveiled plans March 26 to split off its handset business from its broadband and mobility-solutions operations. The news came days after Icahn filed suit against the company March 24 to release documents related to its mobile-devices strategy. Icahn raised his stake in the Schaumburg, Ill., telecom equipment maker to 6.3%, up from 5%, according to a March 5 regulatory filing. Despite the spinoff decision, Icahn still wants Keith Meister, managing director of the Icahn investment funds and chief executive officer of Icahn Enterprises, installed to Motorola's board. Meister was one of four on a slate of candidates Icahn wanted installed on the board that also included Frank Biondi Jr., former chief executive officer of Viacom Inc.; William R. Hambrecht, co-founder of the former investment bank Hambrecht & Quist; and Lionel C. Kimerling, a professor of materials science and engineering at the Massachusetts Institute of Technology.
The news came little more than a month after Motorola said it was considering spinning off its handsets in hopes of improving performance. Problems at the company ha ... |
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