Activist investor Carl Icahn has flogged off 2.9 million shares of Motorola Mobility Holdings for $114 million. This follows Motorola stockholders approving the $12.5 billion deal to be acquired by the search giant Google.
Ichan sold his hares at a slightly lower price than Google's offer of $40 a share for Motorola mobility. In August, Google said it will buy the handset device manufacturer in its biggest deal ever, paying a steep premium of 63 percent.
It is not clear at this point if Icahn just did not like the idea of Google taking over Motorola or he felt that it was part of his job to encourage the outfit to sell itself. Icahn is famous for buying up companies that are suffering from poor management decisions and forcing them to do the right thing.