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MOTOROLA SNAPS UP GI
The long-awaited acquisition of General Instrument (GI) was concluded last week when Motorola absorbed the box-making company in a stock swap that sees GI shareholders take a 17 per cent in Motorola. The deal valued GI at $11 billion. Liberty Media, the programming arm of AT&T, owned 20 per cent of GI. Meanwhile, the UK’s Pace Micro Technology’s share price was lifted almost 9p to pounds 2.12 last Wednesday (within the past year its stock has stood at 54p) on speculation that it could itself be a take-over target.
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