Motorola Plans to Complete Split of Company by Jan. 4
This article is for subscribers only.
Motorola Inc., the U.S. maker of mobile phones and two-way radios that plans to split in two, said it will complete the move on Jan. 4, issuing new shares in the two companies to current stockholders.
Motorola investors will get one share of Motorola Mobility Holdings Inc., the new company built around the handset business, for every eight shares they now own, the Schaumburg, Illinois-based company said today in a statement. Immediately afterward, it will swap seven old shares of Motorola for one new share in the remaining company, boosting the stock’s value by a proportional amount, the company said.