Motorola Increases Next Level Stake

Motorola Inc. said its stake in Next Level Communications Inc. rose to 89% from 74% after the completion of a tender offer.

Motorola will convert some of its preferred stock to common shares, bringing its ownership to more than 90%, a threshold that will allow it to acquire the remaining shares without seeking Next Level’s approval.

Next Level, a Rohnert Park, Calif.-based maker of networking equipment, fought an original $30-million offer made Jan. 13. After Motorola increased the bid 13% to $1.18 a share, Next Level directors recommended investors tender their shares.