News Brief

AP: Kerkorian Off-Loads More Ford Equity

The Associated Press reports that Tracinda chief Kirk Kerkorian has off-loaded more Ford equity, reducing his stake in the Dearborn, Mich. automaker to 4.9%. The investor--based in Las Vegas--sold 26.4 million shares, leaving him with 107 million shares.

The report says that Tracinda's SEC filing reports that the shares were sold at an average price of $2.01.--Karl Greenberg

Tags: automotive
Recommend (1) Print RSS