Motorola Inc. does not plan to support billionaire investor Carl Icahn’s plan to join the company’s board, according to media reports.
The handset vendor is recommending shareholders vote for the company’s own slate of directors. “We urge stockholders NOT to sign any proxy card that you may receive from the Icahn Entities,” Motorola said in a notice about its 2007 annual meeting, according to reports.
Carl Icahn, the billionaire investor, last week notified Motorola he may expand his current 1.4-percent stake in the company as he seeks a seat on its board of directors. A notice to Motorola appeared to reflect that four separate Icahn-controlled entities each may purchase as much as $500 million in Motorola stock, which could total as much as $2 billion in stock.
Motorola’s annual meeting is scheduled for May 7.
Motorola works to block Icahn
ABOUT AUTHOR
Jump to Article
What infra upgrades are needed to handle AI energy spikes?
AI infra brief: Power struggles behind AI growth
The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants
AI infra brief: Power struggles behind AI growth
The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants