Ford expresses no opinion about Tracinda's offer to purchase 20 million shares

By Devika Patel

Knoxville, Tenn., May 22 - Ford Motor Co. said in a company press release it is neutral about Tracinda Corp.'s offer to purchase up to 20 million Ford common shares at $8.50 per share, in cash.

The shares represent just less than 1% of Ford's outstanding common stock.

According to the Schedule TO filed by Tracinda on May 9, Tracinda's tender offer will expire on June 9 at 5 p.m. ET unless extended.

Ford is a Dearborn, Mich.-based automaker.

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