Carl Icahn Increases Holding in Motorola - Again

Activist shareholder and perpetual Motorola nightmare, Carl Icahn has increased his holding in the company from 5% to 6.3% - according to a filing with the US Securities and Exchange Commission.

Last March, he owned 1.4% of the company - which was raised to 2.8% in June and 3.3% in November and finally to 5% in February this year.

Motorola came under renewed pressure last month when Icahn announced his intent to nominate a slate of four directors to stand for election at the CompanyĆ's 2008 Annual Meeting of Stockholders. The Company has not yet scheduled its 2008 Annual Meeting.

Yesterday, Motorola has urged its shareholders to reject the nominees - which could trigger another bitter battle of words as occurred last year.

Speaking last October - former CEO of Motorola Ed Zander said his battle with financier Carl Icahn who had engaged in a very public battle to get a seat on the board of the company, was all business and not a personal grudge match. He said he still sometimes stops in to see Icahn when he is in New York, as he does with other large shareholders.

Carl Icahn has been waging a long term campaign to force Motorola to sell off its mobile handsets business - and would have been doubtless cheered by the announcement in February that the company is undertaking a "strategic review", which may - or may not - result in such a disposal.

Posted to the site on 6th March 2008