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Motorola Solutions Buys $1.17 Billion of Stock From Icahn

Motorola Solutions Inc., which split in two a year ago following pressure from Carl Icahn, bought $1.17 billion of its stock from the billionaire investor and said his representative on the board is stepping down.

The repurchase, representing about 7 percent of shares outstanding, is part of a $3 billion buyback program, Schaumburg, Illinois-based Motorola Solutions said today in a statement. Vincent J. Intrieri, a director of Icahn Enterprises G.P. Inc., has agreed to resign from the board.