Source Pravda.Ru

Kirk Kerkorian holds his price for Ford Motor's stock

Kirk Kerkorian, an Armenian-American billionaire, and president/CEO of Tracinda Corporation, is still standing his ground in connection with Ford Motor’s stock.

In spite of dropped shares he offers $170 million, or $8.50 a share, for up to 20 million shares of the company’s stock.

The validity of the purchase initially was based upon the condition that Ford's stock stay within 10% of its closing level of $8.20 a share on May 8. But the company’s stock constituted $6.76 midday Friday.

Photo: ford.pro-motors.ru