Kerkorian raises Ford stake, offers more capital

Billionaire investor Kirk Kerkorian has raised his stake in Ford Motor Co to 6.5 percent and said he was willing to support the automaker's turnaround with an infusion of additional capital.

Kerkorian, who has now invested about $1 billion in Ford, had previously held a 5.5 percent stake.

A long-time activist investor in the auto industry, he could step in to propose business strategies for Ford as it attempts to turn around its money-losing U.S. operations, according to a filing by his Tracinda Corp investment vehicle on Thursday.

Any additional capital from Kerkorian would be to give Ford more flexibility as it restructures, Tracinda said in the filing with U.S. securities regulators.

Read Full Article from Reuters

- Posted: 2008-06-19 10:17:23

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