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Ford Motor Co (F)

Sector:

Automotive and Parts

Index:

S&P 100

Market Cap

$3,138.85m

Change Today

Price Up$0.06 ()

Share Price

$1.43

Tender offer for Ford shares massively oversubscribed

Date: Tuesday 10 Jun 2008

LONDON (ShareCast) - The tender offer by investment company Tracinda to acquire up to 20m shares in Ford Motor Company has been oversubscribed.

Tracinda, the investment vehicle of billionaire financier Kirk Kerkorian, offered $8.50 a share for the shares and received acceptances in respect of more than 1bn shares by 5pm yesterday, when the deadline for the offer expired.

The purchase of 20m shares pushes Tracinda’s stake up to 5.5%.

The board of Ford has declined to offer an opinion on the stake building by Kerkorian.

At the time the tender offer was first announced the terms were pitched slightly above the prevailing market price for Ford. Since then Ford has indicated that it no longer expects to return to profitability in 2009 and the shares have fallen back to around $6.36.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 20 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Ford Motor Co Market Data

Currency US Dollars
Share Price $1.43  
Change Today $0.06
52 Week High $8.47
52 Week Low $1.26
Volume 132,068,343
Shares Issued 2,195.00m
Market Cap $3,138.85m
Beta 1.27
RiskGrade 661

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 8
Sell 0
Strong Sell 2
Total 11
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ford Motor Co Dividends

No dividends found

Trades for --n/a

Time Volume / Share Price
16:00 99,612 @ $1.35
16:00 22,000 @ $1.40
15:59 1,000 @ $1.41
15:59 1,000 @ $1.41
15:59 200 @ $1.41

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