 
Jams Member Username: Jams
Post Number: 8526 Registered: 10-2003
| Posted on Monday, April 28, 2008 - 9:12 am: |   |
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! |
 
Rb336 Member Username: Rb336
Post Number: 5911 Registered: 02-2007
| Posted on Monday, April 28, 2008 - 9:26 am: |   |
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 |
 
Gistok Member Username: Gistok
Post Number: 6731 Registered: 08-2004
| Posted on Monday, April 28, 2008 - 9:26 am: |   |
The Ford family's class B shares still have 40% voting rights of all Ford stock. |
 
Mwilbert Member Username: Mwilbert
Post Number: 207 Registered: 11-2007
| Posted on Monday, April 28, 2008 - 5:08 pm: |   |
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. |
 
Drankin21 Member Username: Drankin21
Post Number: 243 Registered: 12-2003
| Posted on Monday, April 28, 2008 - 5:15 pm: |   |
Short term cash grab. |
 
Jams Member Username: Jams
Post Number: 8528 Registered: 10-2003
| Posted on Monday, April 28, 2008 - 5:20 pm: |   |
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) |
 
Lmichigan Member Username: Lmichigan
Post Number: 5962 Registered: 10-2003
| Posted on Monday, April 28, 2008 - 6:31 pm: |   |
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. |