SCHAUMBURG, Ill., March 11 (UPI) -- A major Motorola Inc. shareholder with an eye towards breaking up the company is taking a second run at joining the company's board, it was reported Tuesday.
Carl Icahn, who owns 6 percent of the Illinois-based company's stock, is hoping to place four nominees on the 12-member board.
A year ago, Icahn, aiming for one seat on the board, came close. But Chief Executive Officer Gregory Brown's predecessor Edward Zander successfully lobbied against him.
Icahn has been pushing Motorola to breakup its handheld phone division, which Brown has said he was willing to explore.
But the company still wants to stay clear of Icahn's influence, Crain's Chicago Business reported.
"He may have more traction this time," said Warren Chen, a managing director at Glass Lewis, an advisory service that came out against Icahn a year ago.
To be successful, Icahn woul have to court some of the electronics giant's large shareholders, such as Thrivent Asset Management LLC in Minneapolis, which controls 1 million shares, analysts said.
The question of whether to break up the company could hinge on the May 5 vote.
