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Kerkorian at it Again

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http://money.cnn.com/2008/04/28/news/compa...dex.htm?cnn=yes

NEW YORK (CNNMoney.com) -- Billionaire financier Kirk Kerkorian announced Monday that he's offering $170 million for 20 million shares of Ford Motor, and disclosed he has already purchased 100 million shares of the automaker.

Kerkorian's investment firm, Tracinda Corp., announced the $8.50-a-share offer for Ford (F, Fortune 500) shares in a statement. The price represents a 13.3% premium over Friday's closing price of $7.50. The 20 million shares would represent just under a 1% stake in Ford on top of the 4.7% stake Tracinda - whose sole shareholder is Kerkorian - said it now owns.

Tracinda said it has been buying shares since early April, starting when shares were trading at just over $6 a share.

Kerkorian made a similar tender offer to buy shares of General Motors (GM, Fortune 500) back in 2005, but he ended up selling those shares. He also was once the largest individual shareholder of Chrysler until its purchase by German automaker Daimler Benz in 1998.

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he just sees value in things... why would a company be valued so little when it owns so much assets... even if he did a hostile bid over gm and got it for twice it's market value, 20 billion... he could sell each factory and lease it back... raise over 100 billion, and sell the business again...

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How is the guy not dead yet?

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He is bound and determined to kill off one of the automakers.

...or make them stronger. Let's see, Chrysler merged with Daimler in a deal worth something like $50 billion? And GM's stock rose how much after Kerkorian threatened action?

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As long as the Ford Family is in power, Kerkorkian will never gain a controlling stake in them.

But I don't see this move as an attempt to try what he did with GM...instead, he's just investing in an undervalued stock.

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...or make them stronger. Let's see, Chrysler merged with Daimler in a deal worth something like $50 billion? And GM's stock rose how much after Kerkorian threatened action?

And we all know what Kerkorian thought of the Daimler merger. Not to mention how Chrysler faired/is fairing as a result of that merger. The ONLY reason Kerkorian didn't eff up GM is because GM was too headstrong and too big of a problem for him to deal with. IIRC, Kerkorian lost money on GM.

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And we all know what Kerkorian thought of the Daimler merger. Not to mention how Chrysler faired/is fairing as a result of that merger. The ONLY reason Kerkorian didn't eff up GM is because GM was too headstrong and too big of a problem for him to deal with. IIRC, Kerkorian lost money on GM.

Lost $ on stock pricing, a little ahead after dividends in total.

I think with Ford family involved, he bought low to bet on current management, not as a takeover play.

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It's just smart business sense. Anyone who bought GM stock 3 years ago has made a killing.

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Believe it or not, he might help Ford.....

It would be too easy to tear Ford apart....there seems to be another reason....

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Believe it or not, he might help Ford.....

It would be too easy to tear Ford apart....there seems to be another reason....

it seems to me this guy comes nocking at the door, everytime the automakers start talking about selling assets... ford i think just completed the land rover deal? i forget. but either way... its strange this guy comes around, when the companys are on their knees, and taking a hammer to open the piggy bank.

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I do wish Kevorkian would pay Kerkorian a visit..

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I do wish Kevorkian would pay Kerkorian a visit..

He'll have to take the bus, remember the good doctor sold his Cadillac Recently :AH-HA_wink:

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Kerkorian would have to amass 87% of the common stock voting power (either through outright purchase, or convincing them to vote with him), to be able to outvote the Ford family. I just do not see that being even remotely possible.

It doesn't matter what Fords position is, because the Ford family has assured that the company is virtually immune to a takeover.

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It's just smart business sense. Anyone who bought GM stock 3 years ago has made a killing.

No, they haven't...check the stock pages...odds are they're even or lost...do you actually look at info before typing?

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it seems to me this guy comes nocking at the door, everytime the automakers start talking about selling assets... ford i think just completed the land rover deal? i forget. but either way... its strange this guy comes around, when the companys are on their knees, and taking a hammer to open the piggy bank.

It's just good investing. Ever heard "buy low, sell high?" The best time to invest in a company is when their stock is at its lowest value (assuming it will come back).

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