Icahn to acquire massive chunk of MotorolaBillionaire investor known for haranguing management of companies in which he owns big stakes plans strategy shift to buy big piece of Motorola.NEW YORK (CNNMoney.com) -- Carl Icahn and his group Icahn Partners are planning to acquire between $120 and $500 million of Motorola's outstanding stock, sending shares in the communications company higher after hours. His other ventures, Icahn Partners Master Fund and Icahn Partners Master Fund II, are each filing to acquire in excess of $500 million but less than 25 percent of Motorola's total outstanding stock.
Shares of Motorola (Charts) jumped 2.6 percent after hours Wednesday after closing at $18.52 on the New York Stock Exchange. |
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About CNNMoney
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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer
LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer.
Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer
The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc.
Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.
FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
© 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .
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