Tender for Ford Stock
Tender for Ford Stock
Kerkorian's offer to buy 20 mil shares of Ford at $8.50 was oversubscribed by 50 times. Over 1 bil shares were tendered. Not surprising since Ford has been trading at about $6.25 in recent days. It was about $8 when the offer was first made. So for every 100 shares you tendered you would have got to sell 2 shares. For me that would have been a sale of 30 shares. I thought that would happen so I didn't even bother. I am hoping that Kerkorian's long term hopes for Ford are correct.
2009 Vibe 1.8L Carbon Gray AT Power Pkg 1/12/092003 Vibe 1.8L Neptune AT Mono Power Pkg 1/27/03 [sold 2/2/09]2007 T&C SWB 7/31/07 "Broke people stay broke by living like they're rich. Rich people stay rich by living like they're broke."
