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SCHAUMBURG, Ill.-The board of directors of Motorola Inc. said it will distribute about 0.11 of a share of Freescale Semiconductor to Motorola shareholders tax free Dec. 2.
The board described the share as class B common stock for each share of Motorola common stock and the ratio distribution will be on the record date of Nov. 26, 2004.
“We are very pleased to report that the full separation of Freescale is imminent,” said Ed Zander, chairman and chief executive officer of Motorola. “With the separation, Motorola has created two distinct companies with clearly defined business strategies and investment characteristics.”
Freescale was the chip division of Motorola.
