kerkorian did what?
Taken from the Google News Business section Tuesday, November 22.
Kirk Kerkorian’s company, Tracinda, has reduced its number of shares of General Motors Company by 14 million shares with the deal being closed on November 24th.
This comes in light of GM’s decision to reject the partnership offers from Nissan-Renault. In response to this, the market’s valuation of GM stock dropped the price to $31.78.
Kerkorian has decided to invest in an additional 15 million shares into MGM Mirage, stating that, “This tender offer demonstrates our confidence in MGM Mirage and its management and our commitment to the company's future.”
Will Kerkorian’s decisions pay off, only time will tell. The drop in stock price for GM bares brutal repercussions that the stockholders may be no longer happy with how the company is being run.
Perhaps it is time for a change?
Kirk Kerkorian’s company, Tracinda, has reduced its number of shares of General Motors Company by 14 million shares with the deal being closed on November 24th.
This comes in light of GM’s decision to reject the partnership offers from Nissan-Renault. In response to this, the market’s valuation of GM stock dropped the price to $31.78.
Kerkorian has decided to invest in an additional 15 million shares into MGM Mirage, stating that, “This tender offer demonstrates our confidence in MGM Mirage and its management and our commitment to the company's future.”
Will Kerkorian’s decisions pay off, only time will tell. The drop in stock price for GM bares brutal repercussions that the stockholders may be no longer happy with how the company is being run.
Perhaps it is time for a change?
posted by Kyle at 1:06 PM
0 Comments:
Post a Comment
<< Home