It’s been a lousy week for over-hyped fights. First we had to sit through the disappointing De La Hoya/Mayweather bout and now Reuters is reporting that “Carl Icahn on Monday failed to win a seat on the board of Motorola Inc. . . in a shareholders meeting that was surprisingly cordial following a bitter proxy battle.”
Maybe it’s all this industry talk of mergers and acquisitions that’s got us worked up, but we were hoping for some blood--especially after
Icahn’s irate ‘activist investor’ trumpeting in the Wall Street Journal over Motorola’s lackluster first quarter results. But strangely enough things remained business as usual after the vote with Icahn still holding on to his 3% stake and Motorola announcing the unveiling of new 3G mobile devices as early as next
Tuesday.
All bloodlust aside, it’s good to see Motorola gaining momentum after last quarter. But we’re not sure if they’re out of Icahn’s crosshair just yet. In regards to Motorola’s future, Icahn told reporters in Chicago, “It's a very, very good investment, it's just a question of do they have good enough management to carry it home.”
