Kerkorian sells off remaining Ford shares
source: http://news.yahoo.com/s/nm/20081229/bs_nm/us_ford_kerkorian
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- Katanajon
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http://news.yahoo.com/s/nm/20081229/bs_nm/us_ford_kerkorian
DETROIT (Reuters) – Billionaire investor Kirk Kerkorian has sold off all of his remaining shares of Ford Motor Co, a spokeswoman for his investment firm, Tracinda Corp, said on Monday.Tracinda, which briefly ranked as Ford's largest outside investor earlier this year, said in a regulatory filing in October that it had begun working with bankers to sell the 133.5 million shares of the No. 2 U.S. automaker it still held at that time.
It was not immediately clear when Tracinda had completed those remaining sales of Ford stock.
Kerkorian's final pullout from Ford completed a costly retreat for the activist investor, who has a mixed track record with investments at all three Detroit-based automakers.
A spokesman for Ford could not immediately be reached for comment.
Kerkorian, 91, previously held a nearly 10-percent stake in General Motors Corp and made a failed bid for Chrysler LLC last year.
He surprised analysts and investors in April when he began buying Ford shares and spent over $1 billion to take a stake in Ford at an average price per share of $7.10.
At its peak, Kerkorian held a 6.5 percent stake in Ford and had offered in June to support the automaker's turnaround efforts with an infusion of additional capital.
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- USA, Cool, Ford, Financial Health, 1 more
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Nancyf
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Wonder who bought them.
- 4 years ago
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Nancyf
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