May 31 2008
Kirk Kerkorian holds his price for Ford Motor’s stock
Kirk Kerkorian, an Armenian-American billionaire, and president/CEO of
Tracinda Corporation, is still standing his ground in connection with
Ford Motor’s stock.
In spite of dropped shares he offers $170 million, or $8.50 a share,
for up to 20 million shares of the company’s stock.
The validity of the purchase initially was based upon the condition
that Ford’s stock stay within 10% of its closing level of $8.20 a
share on May 8. But the company’s stock constituted $6.76 midday