Motorola Solutions buys 23.7m Shares from Icahn

Motorola Solutions Inc (MSI.N) said it bought back about 23.7 million shares from Carl Icahn and some of his affiliates for $1.17 billion.The share buyback at $49.15 a share was made under an existing $3 billion stock repurchase program, Motorola said in a statement.

As part of the transaction, director Vincent Intrieri, a general partner of Icahn Enterprises L.P., has agreed to resign from Motorola’s board.