China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
Tracinda to tender offer for Ford shares
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) 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.
(Reporting by Euan Rocha, editing by Mark Porter)
