Ford (F) Board Recommends Shareholders Take No Action on Tracinda Offer
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In an 8-K filing with the SEC, Ford Motor's (NYSE: F) Board recommended that its shareholders "take no action at this time in response to the announcement by Tracinda Corporation that it has commenced a tender offer to acquire up to 20 million shares of Ford’s common stock at a price of $8.50 per share."
Ford's Board said it will be reviewing the offer by Tracinda and will update its stockholders on actions to take by May 22, 2008.
Ford Motor Company designs, develops, manufactures, and services cars and trucks worldwide. [BCS]
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