Icahn Sells 2.9 Million Shares of Motorola |
Date: Friday, November 25, 2011
Author: Ankur Banerjee, Reuters.com
Activist investor Carl Icahn reported in a
regulatory filing that he sold 2.9 million shares of Motorola Mobility
Holdings Inc. for $114 million.
Last week, Motorola said that its stockholders approved the $12.5 billion deal to be acquired by the search giant Google Inc.
The 2.9 million shares were sold at a slightly lower price than Google's offer of $40 a share for Motorola mobility.
In August, Google said it will buy the handset device manufacturer in
its biggest deal ever, paying a steep premium of 63 percent.
Libertyville, Ill.-based Motorola's shares closed at $38.57 on Tuesday [Nov. 22] on the New York Exchange.
By Ankur Banerjee in Bangalore
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