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Article: Everything Must Go.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- September 14, 2009
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Byline: Avram Davis
Late last year, when activist investor Kirk Kerkorian saw that his 6% stake in Ford Motor Company was headed due south, he decided that he had had enough. From October to December 2008, the chief executive of Tracinda Corporation sold off all of his shares in the troubled automaker.
Fast forward to Q3 2009: With Ford's market share valued at more than three times its year-end valuation, Kerkorian's early exit from the automaker now looks like one of the worst-timed investment departures in recent history. As PE investors watch the auto parts sector, one can't help but wonder if some bets in the sector are headed toward a similar ...