Kerkorian to invest in Ford

June 26th, 2008
| More
Reclusive investor Kirk Kerkorian has scooped up a 6.5% stake in Ford Motor. Although the company has been cutting costs, they face the very real possibility of having to restructure yet again because of poor sales. This could leave them tight for cash, and Mr. Kerkorian could provide a little extra cushion for the auto giant. Ford also has a $12 billion credit-line however they are reluctant to use it because it could send the wrong message to Wall Street. Another possibility for financing is a favorable equity position from long time banker to the Ford family Goldman Sachs.
For Detailed Investor Profiles on these Investors, click below:
Tracinda Corporation
Related People: Kirk Kerkorian
Related Entities: MGM Mirage (NYSE: MGM); Tracinda Corp

More Recent Headlines

Hedge funds from former Lehman managers buying up assets

Tightening of Capital Markets hurt Smaller Hedge Funds

Tudor Investment Corporation hires Bear Vets to Create Distressed-Debt Strategy

Hedge Funds and CSX Votes

Citigroup closes down Old Lane

Big Brown owner to Start Equine Hedge Fund

SEC sides with TCI

Funds investing in Agriculture

Greenlight vs. Lehman Brothers

Polygon partner Alex Jackson steps aside after losses