In a letter Friday, Icahn noted that he and his investing affiliates control nearly 3% of Motorola stock and argued that should be enough to entitle him to a board seat. Motorola management has already signaled it will resist the Icahn effort.
Motorola had no immediate response to the latest Icahn effort. The firm has already indicated its earnings will be under pressure in the coming months.
Motorola saw its earnings drop in the last quarter and it has traced much of its troubles to a decline in prices of its once-popular Razr mobile phone handset line that commanded high prices when they were initially introduced several months ago.
The company recently introduced a brace of new products and while some have been highly praised by mobile phone analysts, it will be months before they can contribute much to the bottom line of the firm.
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