04-28-2008, 05:48 PM
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Hummer Guru
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Join Date: Dec 2005
Location: In a FREE U.S.A. where Marxism, Socialism & Communism is not allowed !
Posts: 5,485
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Kerkorian wants 20 million shares of Ford !
Kerkorian's Tracinda seeks 20 million shares of Ford
 Kirk KerkorianNEW YORK (Reuters) -- Kirk Kerkorian's Tracinda Corp said today it intends to make a cash tender offer for up to 20 million shares of Ford Motor Co. at a price of $8.50 per share.
The offer price represents a 13.3 percent premium over Ford's closing price of $7.50 on Friday, April 25, and the news sent Ford shares up 8 percent in premarket trading.
On completion of the offer, Tracinda would own 120 million shares of Ford common stock, or about 5.6 percent of the total outstanding.
Tracinda said it has been following Ford closely and has noted that the automaker is starting to achieve traction in its turnaround efforts.
Last week Ford surprised Wall Street by posting a quarterly profit, led by strong results in Europe and a sharply narrower loss in North America. ...
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