Discuss Detroit Archives - January 2008 Tracinda to tender offer for Ford shares Previous Next
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Jams
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Username: Jams

Post Number: 8526
Registered: 10-2003
Posted on Monday, April 28, 2008 - 9:12 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

quote:

NEW YORK (Reuters) - Tracinda Corp said on Monday it intends to make a cash tender offer for up to 20 million shares of common stock of Ford Motor Co (F.N: Quote, Profile, Research) at a price of $8.50 per share.

The offer price represents a 13.3 percent premium over Ford's closing stock price of $7.50 on April 25, said a statement from Tracinda, which is owned by Kirk Kerkorian.

Tracinda currently owns 100 million shares of Ford common stock. Upon completion of the offer, Tracinda would beneficially own 120 million shares of Ford common stock, or about 5.6 percent of the outstanding shares.



http://www.reuters.com/article /ousiv/idUSWNAS999920080428

He's back!
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Rb336
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Username: Rb336

Post Number: 5911
Registered: 02-2007
Posted on Monday, April 28, 2008 - 9:26 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

so exactly how much would he need to stage a coup? if i recall correctly, the structuring of the common v family stock is such that it is virtually impossible
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Gistok
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Username: Gistok

Post Number: 6731
Registered: 08-2004
Posted on Monday, April 28, 2008 - 9:26 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

The Ford family's class B shares still have 40% voting rights of all Ford stock.
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Mwilbert
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Username: Mwilbert

Post Number: 207
Registered: 11-2007
Posted on Monday, April 28, 2008 - 5:08 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Too hard to stage a takeover at Ford because of the Class B stock--this is probably just about him seeing investment value.

I'm not sure he is right--he was wrong (in my view) about GM a couple of years ago, but he is putting his money behind his opinion and I hope Ford does do well. I think he has a better chance with Ford than with GM, but I personally wouldn't buy either one.
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Drankin21
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Username: Drankin21

Post Number: 243
Registered: 12-2003
Posted on Monday, April 28, 2008 - 5:15 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Short term cash grab.
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Jams
Member
Username: Jams

Post Number: 8528
Registered: 10-2003
Posted on Monday, April 28, 2008 - 5:20 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

FORD MOTOR CO(NYSE: F)
After Hours: 8.18 0.03 (0.37%) as of 4:57PM ET on 04/28/08
Last Trade: 8.21
Trade Time: 4:01PM ET
Change: 0.71 (9.47%)
Prev Close: 7.50
Open: 8.15
Bid: N/A
Ask: N/A
1y Target Est: 8.07
Day's Range: 8.10 - 8.42
52wk Range: 4.95 - 9.70
Volume: 170,470,795
Avg Vol (3m): 61,007,000
Market Cap: 18.12B
P/E (ttm): N/A
EPS (ttm): -1.38
Div & Yield: N/A (N/A)
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Lmichigan
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Username: Lmichigan

Post Number: 5962
Registered: 10-2003
Posted on Monday, April 28, 2008 - 6:31 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

I'm sure this has nothing to do with Ford posting it's first gains in a very long time. lol

Seriously, though, this is not about a takeover.

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