Icahn comeback MOTO dilemma

Beijing on March 25, "Business Week" article points out that radical investor Carl Icahn (Carl Icahn) this week, a pair of Motorola Inc. sued the latter to submit its current loss-making mobile devices business-related documents, to determine the Motorola Board of Directors whether the misconduct. Even if he loses in court, Motorola and will not pressure eased.

When billionaire Icahn, Motorola board seat last year in the fight for battle in defeat, he solemnly declared that if the company's performance does not improve, he will stage a comeback. Now, he really come back with a large number of lawyers.

March 24, Icahn a large court in Delaware Motorola sued to submit with the current loss-making mobile devices business-related documents. Icahn now owns 6.4% stake in Motorola, Motorola's second-largest shareholder. He also requested access to company records and hiring jet like the use of information.

This year, Icahn has launched Motorola's shareholders meeting the Board seat battle again, and said he could not reverse the company's core performance mobile office slowdown frustrated. Motorola has appointed Brown (Greg Brown) to succeed Aidezhande (Ed Zander) as CEO and is considering to sell or a separate mobile phone business. Icahn believes that these measures simply useless. His indictment said: "Mobile Devices Business Unit, has been caught in a vicious cycle."

Icahn before the public prosecution, has tried in private to Motorola's request, but was rejected. It is reported that he had sent a letter in the March 13 Motorola Inc., to request access to the documents. Motorola's board back Mr. Icahn said he could under the conditions of routine access to confidential agreements with Motorola related information, but Icahn does not accept those conditions. The spokesman declined to comment on Icahn.

Frankly to me

Motorola Board has also made concessions accepted Icahn nominated four candidates for board members to the Board in two (not including Icahn Management 8 billion U.S. dollars to help fund the 鍩烘?杩堟柉鐗?(Keith Meister)), but Icahn Motorola did not agree to compromise. Icahn said: "We can agree to nominate other candidates for Motorola, but it must have a sufficient share of stock. Why do not they accept our board of directors nominated by the other two candidates? They never explained to us."

According to informed sources, Motorola that Meister is not qualified. Icahn had previously tried to enter the VISX Board Meister. Follow-up study business management Institutional Shareholder Services Inc. in dispute on the VISX Board of Directors report that the now 30-year-old Meister in the interests of all shareholders into account the lack of experience and objectivity. But Icahn that Meister has enough commercial and investment banking experience, and he also represents the largest shareholder of the 145 million shares, he will inject new energy company's operations. Icahn said: "Motorola's board of directors was not the Brotherhood, nor country club, why not accept him?"

Motorola said Icahn would go something placed in the court settlement, the board wanted to cause more trouble. Motorola claims that Icahn's demands too harsh. Motorola started from July 2006 with a conference call with Wall Street on a regular basis, to the present held a total of nine meetings. Icahn would like to access all of the documents, including a conference call prior to the time and records. He also asked Motorola to provide all of the session to present the content, financial analysis, research reports and the Board started from July 2006 to provide information such as product reviews. Motorola, Icahn also asked to provide a common use of jet recording, mainly because the company board member and former Chief Financial Officer Tom 濮嗘鍒╄开鏂?(Tom Meredith) chief financial officer resigned after the increase in the number of aircraft used.

Continue to put pressure on Motorola's board of directors

RiskMetrics Group research director at the company's acquisition of Chris Young (Chris Young), said Icahn's aggressive approach is standard practice for investors. Motorola says Icahn does not meet the requirements of Delaware law. Icahn's legal counsel Keith Chaikin (Keith Schaitkin) said: "We demand compliance with all legal requirements, we intend to persist in the end." Icahn said he wanted to know all of the shareholders at Motorola's board of directors to to ensure that shareholders and the company's performance when they are thinking.

According to informed sources, as Motorola did not want the May 5 annual shareholders meeting started with members of the Board of Icahn fight, so the next few weeks, Motorola may continue to negotiate with Icahn. Last year, Motorola's handset sales began to decline, decreasing profits, stock prices started to decline, the Motorola felt great pressure from Icahn. Then Icahn began buying shares of Motorola and general meeting in 2007 launched a dispute board members.

Even if Icahn can not get permission to access those files, he may be successful in another, it is to continue to put pressure on Motorola's board of directors. Be permitted if Motorola can not provide that information to Icahn, the board can still feel the pressure from Icahn. Icahn has a large amount of cash to court. Even if the case was referred to the court, and Icahn lost, he still will give Motorola a serious blow to the company and the board of directors. Yang said: "For Icahn, it was a victorious battle. Motorola will have to take the defensive, and the case itself would imply that Motorola withholding some information."







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