Icahn Versus Motorola To Be Decided Tonight

It’s another high-stakes proxy vote for Carl Icahn, who has led more excitings fights of this type than Danny Devito in “Other People’s Money”. Motorola currently has the support of the Calpers, but there’s no guarantee they’ll win this outing with the legendary financier.

cahn, who through his affiliates has amassed a 2.9 percent stake in Motorola, has been endorsed by at least one of the Schaumburg-based company’s largest shareholders. ClearBridge Advisors, which owns 2.2 percent of Motorola’s shares, said Friday it would support the activist shareholder in his bid for one of 13 seats on the company’s board.

Motorola executives continue to maintain that Icahn is unqualified for the post and too busy with other commitments.

“We question - as should you - whether Carl Icahn will act in the best interests of all Motorola stockholders, or just in the best interest of Carl Icahn,” company executives said in an open letter to shareholders late last week. “As a stockholder of Motorola, ask yourself whether someone like Carl Icahn, who is overcommitted elsewhere and underinformed about Motorola, would be a constructive addition to your board.”

Tonight’s meeting will decide if people are happy with current management, who have had a few excellent years with products like the Razr, or if they’re looking for a change in direction as the global telephone market continues to morph.

Who do you think will win this battle?

Resource: Forbes