NEWS Motorola is buying General Instruments (GI) in an agreement that values the company at $11bn. The deal is aimed at the converged voice, video and data market - particularly for consumers. GI and Motorola's cable TV division will set up a new business unit, run by the previous chief executive of GI, Edward Breen. Each GI share will be exchanged for 0.575 of a Motorola share. With the news of the takeover the share prices of both companies fell.
Motorola announces $11bn deal with GI
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