Filed under: Deals, Investments, Shareholders

It is hard to imagine what Carl Icahn is trying so hard to get control of Motorola (NYSE:MOT), or at least to force the company to “improve shareholder value.” The firm is probably no longer worth the sum of its parts.

Earlier today Icahn rejected Motorola’s offer of two board seats. According to The Wall Street Journal “Activist investor Carl Icahn, who is waging a proxy fight to win four seats on Motorola’s board, said he has rejected a compromise offer from Motorola for two board seats.”

The pressure from Icahn pushed MOT shares up to $9.69, well below the $26 where they traded in October 2006.

In the fourth quarter, Motorola’s handset division revenue fell 38% to $4.8 billion. The operation lost $388 million compared to an operating profit of $341 million in the same period a year earlier. The company sold 40.9 million handsets in Q4.

Read the rest of the story at 24/7 Wall St.

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This entry was posted on Sunday, April 6th, 2008 at 9:09 pm and is filed under Engagements and Deals News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.