Summary
Motorola, Inc. (now Motorola Solutions, Inc.) announced the completion of its acquisition of Symbol Technologies, Inc. on January 9, 2007. This significant event, finalized through a merger agreement, saw Symbol Technologies become a wholly-owned subsidiary of Motorola. The transaction involved the conversion of each outstanding share of Symbol's common stock into $15.00 in cash, without interest. This acquisition represents a strategic move by Motorola to expand its operations and market presence. Investors should note the substantial cash outlay for this transaction and consider its potential impact on Motorola's financial position, including cash flow and leverage, as well as its expected contribution to future earnings and strategic growth.
Key Highlights
- 1Motorola, Inc. completed the acquisition of Symbol Technologies, Inc. on January 9, 2007.
- 2The acquisition was executed through a merger, with Symbol Technologies becoming a wholly-owned subsidiary of Motorola.
- 3Each share of Symbol Technologies' common stock was converted into $15.00 in cash.
- 4The transaction was based on a definitive merger agreement dated September 18, 2006, as amended.
- 5This 8-K filing primarily reports the completion of this asset disposition/acquisition.
- 6Key exhibits include the Agreement and Plan of Merger and a press release announcing the completion.