Motorola (MOT) this morning set a November 29 special holders meeting to seek approval for a reverse stock split following the completion of the company’s spin-off of its Motorola Mobility unit. The split will be in the 1-for-3 to 1-for-7 shares range, with exact ratio to be determined by the MOT board. If approved the split would be implemented in Q1 2011, immediately after the spin. Motorola will be renamed Motorola Solutions after the separation of the two parts of the company.
MOT is up 14 cents, or 1.7%, to $8.52.
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