Today, Tracinda Corporation filed its tender offer to acquire shares of Ford Motor Company stock. The following is the company’s response.
DEARBORN, Mich., May 9, 2008 – The Board of Directors of Ford Motor Company (NYSE: F) today recommended that its stockholders take no action at this time in response to the announcement by Tracinda Corporation that it has commenced a tender offer to acquire up to 20 million shares of Ford’s common stock at a price of U.S. $8.50 per share.
The company’s Board said it will review and consider Tracinda’s offer and will advise stockholders of the Board’s position regarding the offer by May 22, 2008, as required under applicable securities law.
