Still smarting and bruised from yesterday’s announcement that film-production company, Lionsgate has rebuffed yet another takeover attempt, perennial corporate raider, Carl Icahn, has become the largest shareholder in US vendor Motorola.
This revelation…
Still smarting and bruised from yesterday’s announcement that film-production company, Lionsgate has rebuffed yet another takeover attempt, perennial corporate raider, Carl Icahn, has become the largest shareholder in US vendor Motorola.
This revelation somewhat muted the announcement by Motorola that it is entering the tablet market and is ready to lock horns again with Apple by building an Android-driven alternative to the iPad. The US manufacturer is rumoured to be developing a tablet for Verizon, which will offer internet TV features.
In an SEC filing released yesterday, Icahn, and companies controlled by him, had increased their holdings in Motorola from 8.75% of the company to 9.99%. This made him the largest shareholder, overtaking mutual fund Dodge & Cox.
Icahn has long been an advocate of the break-up of Motorola, and given the recent sales of parts of Motorola’s business to Nokia Siemens Networks and Pace Microtech, he might be getting his wish. Greg Brown, co-CEO of Motorola also recently announced that the company would be separating the company’s mobile devices and home businesses unit and its mobility solutions and networks businesses unit into to separate companies.
It is unclear whether Icahn is planning to sit back and watch his stake to appreciate, or whether he has other strategic changes in mind.
