MOT Motorola commences process to create two independent companies (9.76 )

Wednesday, March 26, 2008

MOT Motorola commences process to create two independent companies (9.76 )

Co announces that its Board of Directors has commenced a process to create two independent, publicly-traded companies. Today's decision follows the co's January 31, 2008 announced evaluation of the structural and strategic realignment of its businesses and represents affirmative steps to position its Mobile Devices and Broadband & Mobility Solutions businesses for success, while creating value for all Motorola shareholders. Based on current plans, the creation of the two stand-alone businesses is expected to take the form of a tax-free distribution to Motorola's shareholders, subject to further financial, tax and legal analysis, resulting in shareholders holding shares of two independent and publicly-traded cos. The co expects that the separation of its businesses, if consummated, would take place in 2009. The co will host a conference call today March 26, beginning at 8:30ET.