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Article: Symbol-Motorola $3.9B deal done.
- Article from:
- Newsday (Melville, NY)
- Article date:
- January 10, 2007
CopyrightCOPYRIGHT 2007 Newsday. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Richard J. Dalton Jr
Jan. 10--Symbol Technologies Inc., one of Long Island's major technology companies, officially became part of Motorola Inc. yesterday. Shareholders approved the merger during a special meeting in Manhattan, allowing Schaumburg, Ill.-based Motorola to acquire all outstanding Symbol shares for $15 cash in a $3.9-billion deal. The European Union approved the deal Monday, concluding it wouldn't impede competition in the region.
The move will help Motorola expand its business of customized, mobile computers and radio-based identification systems. "In many ways, this isn't Symbol leaving Long Island," said Sal Iannuzzi, ...