Icahn buys more than 27 million shares of Motorola

By Lisa Kerner

Charlotte, N.C., May 7 - Carl C. Icahn and his affiliates bought 27,614,804 additional shares of Motorola, Inc. for a 7.6% total stake in the company.

The shares were acquired between March 28 and May 6 priced from $9.31 to $10.09 each, according to a schedule 13D filed with the Securities and Exchange Commission.

In April, Icahn reached an agreement with Motorola in which William R. Hambrecht and Keith Meister will be nominated for election to Motorola's board of directors at the 2008 annual meeting. They will also be included in the company's 2008 proxy statement, a prior news release said.

Meister, a managing director of the Ichan investment funds and principal executive officer of Icahn Enterprises, has been appointed to the board effective immediately.

Hambrecht is founder, chairman and chief executive officer of WR Hambrecht + Co. and co-founder of Hambrecht & Quist.

Motorola also said it would seek Icahn's input in connection with the intended separation of its mobile devices business and in the search for a new CEO to lead the mobile devices business.

Icahn and his affiliates beneficially own 172,176,804 shares of the Schaumburg, Ill.-based communications company.

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