Kirk Kerkorian, billionaire and elder statesman of takeovers, said he will make a tender offer for another 20 million shares of Ford (F). The price will be $8.50 a share.
His timing is odd. Ford rose to $8.76 last week after posting a surprise profit. It dropped the next day to $7.50 after it was downgraded by brokers. Analysts still see several quarters of losses and thought the stock had run too high too fast.
Kerkorian appears to think that is bunk.
Douglas A. McIntyre