Motorola Solutions, Inc. Purchases Approximately $1.2 Billion of its Common Stock from Icahn

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The FINANCIAL — Motorola Solutions announced that it entered into a Stock Purchase Agreement with Carl Icahn and certain of his affiliates pursuant to which, among other things, the Company has purchased 23,739,362 shares of its common stock at a price of $49.15 per share, for aggregate cash consideration of $1,166,789,642.

 

According to Motorola Solutions, the Company’s purchase of the Shares was made pursuant to existing authorization under its $3.0 billion stock repurchase program.

As part of the transaction, Vincent J. Intrieri, a director of Icahn Enterprises G.P. Inc. and the general partner of Icahn Enterprises L.P, has agreed to resign from the Company’s board of directors effective as of the settlement of the Company’s purchase of the Shares.

 

 

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