Mergers & acquisitions

Shareholders Sue Symbol

HOLTSVILLE, N.Y. -- Symbol Technologies, Inc. (NYSE:SBL), today announced that putative class action lawsuits have been filed against the company in state court. The lawsuits challenge and seek to enjoin the proposed acquisition of Symbol Technologies, Inc. by Motorola, Inc. (NYSE:MOT). Symbol believes the lawsuits are entirely without merit and intends to vigorously defend against the claims.

As previously announced on September 19, 2006, Motorola and Symbol signed a definitive merger agreement, under which Motorola has agreed to acquire all of the outstanding shares of Symbol for $15 per share in cash. The acquisition is subject to customary regulatory approval and the approval of Symbol's stockholders, and is expected to be completed in late 2006 or early 2007.

Symbol Technologies Inc. (NYSE: SBL)

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