Motorola will allow billionaire investor Carl Icahn two board of directors nominations, and also has agreed to seek Icahn's input in the corporate split the long-standing vendor is pursuing. Icahn in return will call off his legal dogs--he had filed a lawsuit against Motorola to gain access to records of board discussions about the company restructuring. Icahn also has pledged to vote his share for all upcoming board nominees.
Many details of the corporate split still need to be worked out, but it appears that at least the ongoing war of words between Motorola officials and Icahn has been mitigated.
For more:
- check out this Associated Press coverage at The New York Times
Related articles:
- Icahn called for a Motorola break-up last December