Tracinda Corporation has announced it will acquire 20 million common shares of Ford’s stock.
Tracinda owned by Kirk Kerkorian (pictured) will offer $8.50 per share which represents a 13.3 per cent premium over Ford’s closing stock price of $7.50 on April 25. Ford released a statement made by Alan Mulally: “We welcome confidence in Ford and the progress we are making on our transformation plan. Any investor can purchase Ford shares, which are sold on the open market. The Ford team remains focused on executing our plan to transform Ford into a lean global enterprise delivering profitable growth for all.”
Tracinda and Kirk Kerkorian has taken a stake in GM in the past and obliged GM CEO to meet Carlos Ghosn for a potential partnership that never happened.
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