Friday, February 1, 2008
Motorola Set to Pull the Plug? Here's an Update!
Posted by Darius Wey in "NEWS" @ 08:00 AM
Earlier in the week, there was all this talk of Motorola pulling the plug on its mobile device assets. The claims were unsubstantiated at the time, although Motorola's latest press release suggests there is some truth to it all.
"Motorola, Inc. (NYSE: MOT) today announced it is exploring the structural and strategic realignment of its businesses to better equip its Mobile Devices business to recapture global market leadership and to enhance shareholder value. The company’s alternatives may include the separation of Mobile Devices from its other businesses in order to permit each business to grow and better serve its customers. "All of our businesses have exceptional people, products and intellectual property and the ability to achieve category leadership in their markets," said Greg Brown, President and Chief Executive Officer. “We are exploring ways in which our Mobile Devices Business can accelerate its recovery and retain and attract talent while enabling our shareholders to realize the value of this great franchise." The company does not intend to discuss developments with respect to the exploration of strategic alternatives unless or until its Board of Directors has approved a definitive transaction or the process is otherwise complete. There can be no assurance that any transaction will occur or, if one is undertaken, its terms or timing."
For now, the information is as vague as ever, but we've played the waiting game before and we're happy to play it again.
"Motorola, Inc. (NYSE: MOT) today announced it is exploring the structural and strategic realignment of its businesses to better equip its Mobile Devices business to recapture global market leadership and to enhance shareholder value. The company’s alternatives may include the separation of Mobile Devices from its other businesses in order to permit each business to grow and better serve its customers. "All of our businesses have exceptional people, products and intellectual property and the ability to achieve category leadership in their markets," said Greg Brown, President and Chief Executive Officer. “We are exploring ways in which our Mobile Devices Business can accelerate its recovery and retain and attract talent while enabling our shareholders to realize the value of this great franchise." The company does not intend to discuss developments with respect to the exploration of strategic alternatives unless or until its Board of Directors has approved a definitive transaction or the process is otherwise complete. There can be no assurance that any transaction will occur or, if one is undertaken, its terms or timing."
For now, the information is as vague as ever, but we've played the waiting game before and we're happy to play it again.
