Kerkorian's Tracinda Waives Stock Drop Condition on Ford Motor (F) Tender Offer
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Kirk Kerkorian's Tracinda Corporation announced today that it will waive the condition to its previously announced cash tender offer that the market price of shares of Ford Motor Company (NYSE: F) common stock does not decrease by 10% or more from the close of trading on May 8, 2008.
Tracinda continues to believe in Ford's management and turnaround efforts and remains committed to its offer for up to 20,000,000 shares of Ford common stock at a net per share offer price of $8.50. The offer is scheduled to expire at 5:00 p.m. New York City time on June 9, 2008 unless extended.
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