NY Times reports Motorola is considering to split into three companies. The move follows an earlier plan to split into two separate companies and should allow to company to raise cash and pay down debt.
The pioneering maker of radios and cellphones has hired JPMorgan Chase, Centerview Partners and Goldman Sachs to seek buyers for its division that manufactures set-top boxes for cable television companies and radios to go into cellphone transmission towers, according to people briefed on the matter. These people, who requested anonymity because they were not authorized to discuss the process, cautioned that it was still in its early stages and may not lead to a deal.
The businesses up for sale could be worth as much as $5 billion, said Philip Cusick, an analyst for Macquarie Capital