Motorola to Break Up Cell Phone Division?
Whoa. After delivering nothing but a stretch of bad news for the past couple of quarters, Motorola today announced that it was considering splitting its troubled cell phone division - a move which could mean spinning off the business, merging with another company, or selling it outright.
Major shareholder and "coroprate raider" Carl Icahn had suggested the breakup over a year ago, but his efforts to win a seat on Motorola's board failed miserably and the idea never left the ground. Icahn did say that he planned to run again for a board seat this year.
The breakup news sent shares of Motorola up over 10% in after-hours trading. The stock, now trading at $12.75, has fallen from its highs of over $25.
Motorola Mulls Breakup, Phone Unit Sale
Tags: motorola
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