Tracinda Increases Stake in Ford to 5.5%


In a dis­trac­tion that Ford senior man­age­ment does not need, bil­lion­aire investor Kirk Kerko­ri­an is mak­ing a bid to increase his own­er­ship stake in the automak­er. Mr. Kerkorian’s invest­ment com­pa­ny, Tracin­da Corp., recent­ly acquired about 826.2 mil­lion shares in a ten­der offer to share­hold­ers. Mr. Kerkorian’s stake in Ford increased to 5.5% from 4.7%. This is not enough to con­trol the com­pa­ny, but enough to make sure his voice is heard.