Kerkorian increases stake in Ford to 6.49 percent

Filed under Deals, Kirk Kerkorian - Tracinda Corporation
June 19, 2008 7:34 pm

Billionaire investor Kirk Kerkorian’s Tracinda Corp. reported Thursday it has increased its stake in Ford Motor Co. to 6.49 percent and remains willing to consider supporting the automaker’s turnaround effort with additional capital.

With the increase of about 20 million shares, Tracinda now owns 140.8 million Ford shares, according to the investment company’s filing with the Securities and Exchange Commission. It previously had disclosed a 5.5 percent stake.

The filing came two days after Chief Executive Alan Mulally and Executive Chairman Bill Ford met with officials from Tracinda including Kerkorian to discuss the Dearborn-based automaker’s transformation plan.

read the rest published by SF Gate here:

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/06/19/financial/f035044D34.DTL&feed=rss.business

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