Kerkorian's Tracinda Discloses 6.49% Stake in Ford (F), Average Cost of About $7.10/Share

In a 13D filing on Ford Motors (NYSE: F), Kirk Kerkorian's Tracinda Corporation disclosed a 6.49% stake (140,800,000 shares) in the company and said they provide additional capital to the company.

Kerkorian disclosed a number of purchases after the $8.50/share 20 million tender offer on 06/13. The purchases after the tender offer were made in the open market at prices in the mid-$6 range.

The aggregate purchase price of Kerkorian's 140,800,000 shares was approximately $1 billion (including estimated expenses), or about $7.10 per share. Shares of Ford currently trade at $6.22 per share.

From the filing: "The Filing Persons have explored, and may continue to explore, the possible infusion of additional capital into the Issuer in order to give the Issuer more flexibility in implementing its turnaround process. In addition, the Filing Persons reserve the right, should they determine to do so at any time after the date of this filing, to take such actions with respect to their holdings in the Issuer as they deem appropriate in light of the circumstances existing from time to time. Such actions may include: continuing to hold their shares; disposing of some or all of their shares in the open market or otherwise; or acquiring additional shares in the open market or otherwise."

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