November 22, 2011, 5:43 PM ET
It seems Carl Icahn doesn’t want to wait.
The billionaire investor is the largest stockholder in Motorola Mobility, which has agreed to sell itself to Google for $12.5 billion. Icahn is selling some of his Motorola stock in the open market, rather than wait to collect an ever bigger check from Google.
Icahn today reported selling more than 2.9 million Motorola Mobility shares, or less than 10% of his holdings in the mobile-phone company. The sales, at less than $39 a share, totaled about $114 million.
Icahn left more than $3.5 million on the table by selling at less than Google’s $40-a-share acquisition price. But we’re guessing Icahn has better things to do with his millions than to park it and twiddle his thumbs while Google winds through deal-related regulatory reviews.
And Icahn isn’t the only impatient Motorola stockholder. According to recent regulatory filings, some Motorola Mobility executives also are taking an opportunity to sell their company stock on the open market.
Those Motorola executives who have sold stock in recent weeks include Chief Financial Officer Marc Rothman, Chief Technology Officer Geoffrey Roman, President Daniel Moloney, Controller Mark Valentine and General Counsel D. Scott Offer.
http://blogs.wsj.com/deals/2011/11/22/carl-icahn-sells-114-million-in-motorola-mobility-stock/?mod=yahoo_hs
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