Motorola Chmn. Christopher Galvin said it was splitting off its s...
Motorola Chmn. Christopher Galvin said it was splitting off its semiconductor business into a publicly traded company to increase its focus on communications and integrated electronics systems. He said it hadn’t finalized details of the deal. Motorola said it…
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was considering an IPO of part of its semiconductor products sector, to be followed by a distribution of remaining shares to stockholders in “a tax- free manner.” That would be subject to Motorola board approval, “favorable” market conditions and regulatory approvals, it said. Motorola said its remaining portfolio included cellular handsets and related software, cellular network infrastructure, integrated radio communications and solutions for public safety and govt. users, automotive electronics and cable and broadband communications.