Motorola Rallies On Split Decision

Shares of Motorola took off Friday morning after the telecom company announced a long-anticipated move to split into two publicly traded companies.

Motorola shareholders will get a tax-free stock dividend of shares in the new companies. Excitement over the news and potential benefit for investors led Motorola's shares to rally 5.7% to $7.03 in morning trading in New York.

One year after talk of a split was first floated, Motorola said Thursday it revised its plan to one that combines its mobile devices and home units into a consumer-focused company and its enterprise mobility and networks units into a company targeted at government and corporate customers. The split will take place by early 2011. Co-Chief Executive Sanjay K. Jha will head the mobile company while fellow Co-Chief Gregory Q. Brown will lead the enterprise business.

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- Posted: 2010-02-12 11:17:37

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