from yesterday's Market Watch (10/21):
Tracinda to sell up to $300 million in Ford stock
By Steve Gelsi, MarketWatch
Last update: 4:04 p.m. EDT Oct. 21, 2008NEW YORK (MarketWatch) --
"Tracinda Corp., the holding company for billionaire investor Kirk Kerkorian, on Tuesday said it may sell its entire 6% stake in Ford Motor Co., valued at more than $300 million, as it changes its investment focus to the gaming and energy sectors.
Tracinda disclosed it sold 7.3 million shares of Ford (FFord Motor Company F) on Oct. 20 at an average price of $2.43 a share for proceeds of about $17.7 million.
The Los Angeles company said it will focus on the gaming and hospitality, as well as the oil and gas industries, "in light of current economic and market conditions." "...
for the complete story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment