Ford meets with Tracinda to discuss turnaround

Ford has just released a very short press release stating that CEO Alan Mulally and Executive Chairman Bill Ford met with representatives of Kirk Kerkorian’s Tracinda investment firm.

“The informal meeting was positive and a chance for the leaders of both companies to discuss elements of Ford”s transformation plan that we have announced publicly,” said the statement. “We continue to welcome confidence in Ford by our various stakeholders.”

The press release did not say who was representing Tracinda at the meeting. Tracinda said last week it would buy an additional 20 million Ford shares for about $170 million at $8.50 per share. The move would increase its stake to 5.5 percent.

Source: Ford, Free Press