Investing
Motorola's Best Strategy: Getting Icahn To Buy More (MOT)
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Carl Icahn has disclosed in an 13D SEC FILING that he boosted his share ownership in Motorola Inc. (NYSE: MOT). Icahn indicated his ownership of the stake in a notice to nominate four directors to the board sent last week, and he noted that shares are undervalued and that he intends to seek further conversations with the company. It appears that Icahn now holds some 114.2891 Million shares of Motorola stock, which is now roughly 5% of the common stock.
Icahn is a very smart and influential investor. But it may take more than forcing a share buyback and a cell phone business auction to make this stock turn around. That is why we listed this as one of the top stocks that may disappear this year.
Motorola shares are up about 1% to $11.60 in after-hours trading, which is actually more than 20% higher than the 52-week lows of $9.43 seen recently. Frankly, if John Chambers & Co. wasn’t such a better competitor and if they hadn’t guided lower on tonight’s Cisco conference call these shares might be up more than this.
Jon C. Ogg
February 6, 2008
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