Notable Mergers and Acquisitions of the Day 3/26 (MOT, TTWO/ERTS, F/TTM)

March 26, 2008 9:25 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• Motorola, Inc. (NYSE: MOT) said Board of Directors has commenced a process to create two independent, publicly-traded companies. The company will separate their Mobile Devices and Broadband & Mobility Solutions businesses.
  
  Today's decision follows the Company's January 31, 2008 announced evaluation of the structural and strategic realignment of its businesses and represents affirmative steps to position its Mobile Devices and Broadband & Mobility Solutions businesses for success, while creating value for all Motorola shareholders.
  
  Based on current plans, the creation of the two stand-alone businesses is expected to take the form of a tax-free distribution to Motorola's shareholders, subject to further financial, tax and legal analysis, resulting in shareholders holding shares of two independent and publicly-traded companies.
  
  
• Take-Two Interactive Software's (NASDAQ: TTWO) Board of Directors announced that it has thoroughly reviewed Electronic Arts Inc.’s (NASDAQ: ERTS) unsolicited conditional tender offer and unanimously determined that the $26.00 per share cash offer is inadequate in multiple respects and contrary to the best interests of Take-Two’s stockholders.
  
  The Board recommends that stockholders not tender any of their shares to EA.
  
  
• Ford Motor Company (NYSE: F) confirmed it has entered into a definitive agreement to sell its Jaguar Land Rover operations to Tata Motors (NYSE: TTM).
  
  The total amount to be paid in cash by Tata Motors for Jaguar Land Rover upon closing will be approximately US $2.3 billion. At closing, Ford will then contribute up to approximately US $600 million to the Jaguar Land Rover pension plans.
  
  The sale is expected to close by the end of the next quarter and is subject to customary closing conditions, including receipt of applicable regulatory approvals.
  

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions

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