Motorola Mobility Holdings will separate from Motorola, Inc. through a tax-free dividend involving the distribution of all Motorola Mobility common stock held by Motorola to Motorola stockholders prior to market open on January 4, 2011. The company also approved a reverse stock split of shares of Motorola common stock following the distribution. Motorola stockholders of record will receive 1 share of Motorola Mobility common stock for every 8 shares of Motorola common stock they hold. Immediately following the distribution of Motorola Mobility common stock to Motorola stockholders, Motorola will effect a 1-for-7 reverse stock split of Motorola common stock, which will become effective prior to the market open on Jan. 4, 2011. http://www.motorola.com
Motorola Sets Separation Date for January 4, 2011
Share this article
Help others discover this reporting.
Explore More
On this day
November 29From 25 years of the Converge Digest archive.