Tracinda, the investment vehicle of Kirk Kerkorian, looks to increase its stake in Ford from 4.7% to 5.6% and has offered $8.50 per share for 20 million shares. Tracinda has been steadily building its stake in Ford as it believes the company’s turnaround plan is on track to deliver positive results. A plan that included the sale of Jaguar and Land Rover to Tata in a deal worth £1.15bn

Ford has finally sold Jaguar and Land Rover to Tata in a deal worth £1.15bn. Land Rover has remained profitable throughout its ownership by Ford, however Jaguar has never made a positive return on investment. The proceeds amount to about half of what Ford paid for the marques, suggesting the purchase was not the best move Ford ever made. Ford will now focus on its currently loss-making business in the US. (more…)