Google takeover pays off for Motorola employees, too, Crain's

Read more: http://www.chicagobusiness.com/article/20110822/NEWS08/110829998/google-takeover-pays-off-for-motorola-employees-too#ixzz1Vu546oFr
Stay on top of Chicago business with our free daily e-newsletters

(Crain's)
— CEO Sanjay Jha isn't the only one who's going to make out on his
$12.5-billion sale of Motorola Mobility Holdings Inc. to Google Inc. The
all-cash deal also will provide a long-awaited reward for Motorola
employees who survived the double whammy of recession and restructuring.
Motorola
Mobility accepted a $40-a-share offer last week from the Internet
search-engine giant from Mountain View, Calif. That should put employees
whose stock options have been worthless into the black.
In
June 2009, Motorola allowed employees to exchange options at a rate of
roughly 2.25 old ones for one new one. After Motorola Mobility separated
from the public-safety business known as Motorola Solutions Inc. in
January, those options were priced at $24.24 each, for a potential 39%
gain.
The exact number of options hasn't been disclosed, but Motorola granted equity to thousands of

Read more: http://www.chicagobusiness.com/article/20110822/NEWS08/110829998/google-takeover-pays-off-for-motorola-employees-too#ixzz1Vu5ASjih