Kerkorian bid sends Ford shares up 10%
Kirk Kerkorian, billionaire investor extraordinaire, has offered to purchase 20 million shares of Ford Motor Co.
Is it me or does this guy have a potentially unhealthy obsession with American automobile manufacturers? ;)
The proposed transaction will give the investor his long desired 5% stake in the firm.
Needless to say, Kerkorian’s offer gave the stock a much needed boost! Shares are up 10% today. Investors are impressed with the offer (at least momentarily) but the long-term outlook on Ford is still questionable.
Can Ford reclaim the top spot in an industry plagued by increasing costs and intense competition? That remains to be seen. But, in the meantime quick profits are there for the taking as Kerkorian’s bid drives up the price of Ford’s beaten down shares.
2 opinions for Kerkorian bid sends Ford shares up 10%
Deb Jastrebski
Apr 29, 2008 at 6:43 am
Welcome profsilver. looking forward to lots of good advice.
cptsteiner
Apr 30, 2008 at 12:58 pm
Dollar drops so do all of the components assembled in Asia. Toyota’s start to sport price tags of Porsche’s. With the countries debt, buying American won’t just be Patriotic, it will be economical, something Washington isn’t!
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