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 Motorola Inc try for Japan's Vertex Standard Co

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T O P I C    R E V I E W
vk3pa Posted - 07 Nov 2007 : 5:30:24 PM
(MarketWatch) -- Motorola Inc., (MOT:Motorola, Inc
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Last: 17.74+0.03+0.17%

4:01pm 11/06/2007

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MOT 17.74, +0.03, +0.2%) the Schaumburg, Ill., communications-equipment giant, said on Monday that it bid $108 million for 80% of Japan's Vertex Standard Co., a provider of two-way-radio-communications solutions. Motorola also said it would form a goint venture with Tokogiken, a company controlled by Vertex President and Chief Executive Jun Hasegawa, which will hold the other 20% oof Vertex. The deal price is 2,214 yen ($19.38) a share, reflecting a premium of 38% over Vertex Standard's closing price on Friday and 41% over the three-month average closing price. Vertex Standard's board has approved the terms, Motorola said


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