$2 BN DEAL - Motorola Solutions intends to commence a modified "Dutch Auction" tender offer to repurchase up to $2 billion of common stock
Motorola Solutions also announced today that its board of directors approved proceeding with a tender offer to repurchase up to $2 billion of common stock (subject to a customary increase if the tender offer is oversubscribed). The company intends to commence a modified "Dutch Auction" tender offer at a specified price range to be determined. The company expects to commence the tender offer on or about August 7.
The company will fund the tender offer with a combination of existing cash on the company’s balance sheet and a portion of the proceeds from the $1 billion strategic investment by Silver Lake.
After these actions, the company will maintain robust liquidity and a strong balance sheet and investment grade credit ratings.