Motorola Split to Take Effect Tuesday |
| Wall Street Journal - Jan 3, 2011 |
Motorola Inc.'s long-awaited split into two entities is set to take place formally Tuesday.
The two spinoffs will be Motorola Mobility Holdings Inc., which consists of the company's consumer-focused smartphone and set-top-box business, and Motorola Solutions Inc., which will focus on public-safety radios and handheld scanners.
Both entities began trading on the New York Stock Exchange last month in the form of "when-issued" shares. "When-issued" trading helps investors determine the opening price for the new stocks before the official split. The market is used mainly by institutions and other sophisticated investors, and is generally less liquid than regular trading.
Motorola Mobility's "when-issued" shares dropped during their first few days of trading but have recovered of late and have soared more than 25% since they began trading on Dec. 17. Monday at midafternoon, the shares were up 4% at $30.28.
Read Full Article from Wall Street Journal
- Posted: 2011-01-03 13:43:12
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