[Pioneer]

LINK

[ausrutherford]

Id rather him not invest.

[Mark B. Morrow]

ausrutherford, on Nov 17 2009, 03:44 AM, said:

Id rather him not invest.

His money is as green as anyones. He probably won't interfere with Ford like Kirkorian would.

[FordBuyer]

Mark B. Morrow, on Nov 16 2009, 11:05 PM, said:

His money is as green as anyones. He probably won't interfere with Ford like Kirkorian would.

Ford sent to all common shareholders a "poison pill" plan. If any shareholder has more than 5.8% of Ford stock, then common shareholders are supposed to get preferred shares or something along that line. I will have to read it again, but it said it wouldn't take affect unless someone like Soros buys up a significant chunk of Ford stock.

[FordBuyer]

FordBuyer, on Nov 16 2009, 11:11 PM, said:

Ford sent to all common shareholders a "poison pill" plan. If any shareholder has more than 5.8% of Ford stock, then common shareholders are supposed to get preferred shares or something along that line. I will have to read it again, but it said it wouldn't take affect unless someone like Soros buys up a significant chunk of Ford stock.

The Ford plan states that if any non-exempt person or group acquires 4.99% or more of the company's outstanding shares of common stock the stock purchase would trigger a significant dilution in the ownership interest of the group or person that increased its holdings in Ford. The dilution comes in the form of a dividend. That is, the Ford board declared a dividend of one preferred-share purchase right for each outstanding share of its common stock and Class B stock purchased. However, the purchase rights would only be activated if the poison pill threshold of 4.99% is exceeded.

Exempt from the universe of 5% shareholders are some institutional holders, such as funds of funds that hold Ford stock on behalf of several individual mutual funds, where no single fund owns 5 % or more of the auto company's stock.

[Sixt9coug]

F hit a 52 week high today. Woot!

[jpd80]

So long as Soros' hedge funds keep buying shares at around $9.00, I don't mind at all.....

This post has been edited by jpd80: 17 November 2009 - 03:15 PM

[aneekr]

FordBuyer, on Nov 17 2009, 12:16 AM, said:

The Ford plan states that if any non-exempt person or group acquires 4.99% or more of the company's outstanding shares of common stock the stock purchase would trigger a significant dilution in the ownership interest of the group or person that increased its holdings in Ford. The dilution comes in the form of a dividend. That is, the Ford board declared a dividend of one preferred-share purchase right for each outstanding share of its common stock and Class B stock purchased. However, the purchase rights would only be activated if the poison pill threshold of 4.99% is exceeded.

Exempt from the universe of 5% shareholders are some institutional holders, such as funds of funds that hold Ford stock on behalf of several individual mutual funds, where no single fund owns 5 % or more of the auto company's stock.

Thanks for the info FordBuyer. My understanding of the primary role of the poison pill announced in September is to retain Ford's ability to accrue tax benefits from NOL offsets to future income, which would be nullified if an "ownership change" according to part g of U.S. Code section 382 was to take place (just as you describe).

It will be interesting to see if Soros has further increases in his F holdings planned for Q4. His Q3 position didn't seem to have a deleterious impact on F. :shrug: