June 20, 2008 |
Billionaire investor Kirk Kerkorian has raised his stake in Ford Motor Co. to 6.49%, saying his investment company would consider throwing additional money into the struggling automaker's turnaround effort. Tracinda Corp. said Thursday in a regulatory filing that it purchased another 20 million Ford shares, raising its stake to 140.8 million. It previously had disclosed a 5.5% stake.
June 18, 2008 |
Ford Motor Co. said its top executives met with representatives of billionaire Kirk Kerkorian's Tracinda Corp., a week after the investor completed an offer to buy more of the automaker's shares. The meeting "was positive and a chance for the leaders of both companies" to discuss Ford's turnaround efforts, the Dearborn, Mich.-based automaker said. The second-largest U.S.-based automaker said Chairman William Clay Ford Jr. and Chief Executive Alan Mulally attended. The statement didn't identify who represented Tracinda.
November 28, 2007 |
Billionaire Kirk Kerkorian's Tracinda Corp. on Tuesday withdrew its $1.4-billion tender offer for 16% of Tesoro Corp., citing a stockholder-rights plan adopted by the oil refiner. Shares of Tesoro fell almost 6%. The rights plan "inhibits value for all Tesoro shareholders by, among other things, restricting the ability of shareholders to vote, sell or acquire Tesoro shares freely without fear of triggering the draconian provisions of the rights plan," Beverly Hills-based Tracinda said.
November 16, 2007 |
Tesoro Corp., a U.S. refiner targeted in a $1.4-billion tender offer by Kirk Kerkorian's Tracinda Corp., suggested giving a Tracinda representative a seat on its board. Tesoro Chief Executive Bruce Smith, during a Nov. 13 meeting with Tracinda executives in Beverly Hills, said it might be "a good idea" for the investment firm to have a board seat, according to a public filing by Tracinda. San Antonio-based Tesoro also suggested entering into a shareholder agreement with the firm.
October 27, 2007 |
Kirk Kerkorian's Tracinda Corp. plans a $1.4-billion tender offer to acquire a 16% stake in Tesoro Corp., a U.S. refiner whose profit jumped tenfold in the last four years as gasoline demand and prices climbed. The offer will be for 21.9 million shares of San Antonio-based Tesoro at $64 each, Los Angeles-based Tracinda said Friday. The price is 12% higher than Thursday's close. Kerkorian, a 90-year-old billionaire, would become Tesoro's largest shareholder, with a 20% stake.
June 21, 2007 |
Never mind. Billionaire investor Kirk Kerkorian has abandoned his effort to buy two of MGM Mirage's premier Las Vegas developments, the Bellagio casino-resort and the $7-billion CityCenter development. The announcement Wednesday by Kerkorian's Tracinda Corp.