Kirk Kerkorian holds his price for Ford Motor's stock

Business
Kirk Kerkorian holds his price for Ford Motor's stock
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