Billionaire investor Kerkorian adds $100 mn in Ford bid
Billionaire investor Kirk Kerkorian has added $100 million in financing as part of his bid to increase his stake in Ford Motor Co.
By Agencies |
WASHINGTON: Billionaire investor Kirk Kerkorian has added $100 million (euro63.52 million) in financing as part of his bid to increase his stake in Ford Motor Co.
Kerkorian's Tracinda Corp said in a regulatory filing Friday it may borrow as much as $600 million (euro381.15 million) from Bank of America.
That's an increase from $500 million (euro317.62 million). Kerkorian has said he wants to buy up to 20 million shares of Ford's common stock in an attempt to increase his ownership of the automaker to 5.5 per cent.
Kerkorian's Tracinda Corp said in a regulatory filing Friday it may borrow as much as $600 million (euro381.15 million) from Bank of America.
That's an increase from $500 million (euro317.62 million). Kerkorian has said he wants to buy up to 20 million shares of Ford's common stock in an attempt to increase his ownership of the automaker to 5.5 per cent.
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