NEW YORK (
) -- Activist investor Carl Icahn has snapped up an additional 3.3 million shares of
over the past three sessions, according to a new filing with the
Securities and Exchange Commission
In a Form 4 disclosure after Tuesday's closing bell, Icahn disclosed the purchases of 678,500 shares at $7.51 each on Friday; 200,000 shares at $7.52 each on Monday; and a whopping 2.41 million shares at $7.51 each in Tuesday's session.
The transactions bring the total number of common shares controlled by Icahn -- who made the disclosure because he's already a 10% owner of Motorola's outstanding stock -- to more than 250.4 million.
Motorola shares finished Tuesday flat at $7.52, and the stock was moving slightly higher in afterhours action, rising 7 cents to $7.59. Year-to-date, the shares are down a little more than 3%; although they've seen a decent bounce overall since sinking to their 52-week low of $6.04 in late January.
As of June 30, Motorola had 2.37 billion outstanding common shares on a diluted basis. The latest buys bring Icahn's stake up to roughly 10.56% based on that figure.
Icahn made news earlier Tuesday as shares of
Lions Gate Entertainment
soared to a new 52-week high when he
for the Canadian movie studio to $7.50 per share.
Written by Michael Baron in New York.
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