Motorola Mobility to split from parent company
1st Dec 2010 | 15:36
Now you'll have to specify which bit of Moto you're saying hello to
Motorola's split of the company into two separate entities will happen soon, creating Motorola Mobility and Motorola Solutions.
The stocks will be split up, with those owning shares in Motorola Inc getting one share of Motorola Mobility and the rest in the Motorola Solutions.
Motorola will then effect a 1-for-7 reverse stock split of Motorola common stock, which means for every seven shares of Motorola held, you'll receive one share in Motorola Solutions instead.
Dealing in fractions
Fractional shares will be aggregated and sold off by brokers, with owners receiving cash from the sale.
The change will come into effect ahead of the markets opening on 4 January, with recorded stockholders from 21 December subject to the split.
Essentially it means that when we speak about Motorola from now on, we'll mean the phone and set-top box maker - we just want to know when the Android tablet is coming, to be honest.