Motorola Solutions (MSI) has released an update.
Motorola Solutions has reached an agreement to repurchase its 1.75% Convertible Senior Notes due 2024 from Silver Lake Partners for $1.59 billion, which is inclusive of the conversion premium. The buyback, which will be funded through cash reserves and short-term borrowings, will eliminate the notes’ potential dilutive impact on the company’s stock, as no further notes will remain outstanding post-transaction, expected to complete by March 28, 2024.
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