06/23/2008 (5:05 am)
Kerkorian ups Ford stake
Billionaire investor Kirk Kerkorian’s Tracinda Corp. reports it has increased its ownership stake in Ford Motor Co. to 6.49% from 5.5%.
Tracinda says in a filling to the Securities and Exchange Commission that it now owns 140.8 million shares in the automaker.
The filing comes two days after Chief Executive Alan Mulally and Executive Chairman Bill Ford met with officials from Tracinda including Kerkorian to discuss the Dearborn-based automaker’s transformation plan instant cash advance.
A Ford (F, Fortune 500) spokesman didn’t have an immediate comment early Thursday on the filing.
Kerkorian has tried to leave his mark on Detroit’s auto companies during the past decade.
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