Motorola to fund mobile devices
NEW YORK - A report in The Wall Street Journal citing unnamed sources says Motorola Inc. will buy back most of its debt and pump the bulk of its remaining cash into its new mobile devices spinoff. The new company, to be called Motorola Solutions, will get about $3 billion to $4 billion free of pension liabilities and most other obligations, the paper said. Motorola has announced it will split into two separate, smaller companies after the first of next year.
The debt buyback will help clean the balance sheets of the two companies, enabling them to acquire others or be acquired themselves, the sources told the paper.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.