How Kirk Kerkorian changed Detroit's auto industry - USA TODAY
How Kirk Kerkorian changed Detroit's auto industry Kirk Kerkorian, the billionaire investor known for mega-deals and hostile takeover bids, was seen as a "deep value" investor and he loved kicking the tires in Detroit, looking for value,... ly/1Lfrhri Kirk Kerkorian, the billionaire investor known for mega-deals and hostile takeover bids, was seen as a "deep value" investor and he loved kicking the tires in Detroit, looking for value, especially among auto companies that were on the... • General Motors bid: Kerkorian's Tracinda made a run at General Motors in 2006. He began buying GM shares in the spring of 2005. But that dance led nowhere. GM's management and Kerkorian just didn't get along. Kerkorian had urged a global partnership among GM, Nissan Motor and Renault USA. • Chrysler takeover attempt: Kerkorian first invested in Chrysler in 1990 after meeting with the automaker's boss Lee Iacocca. Five years later, his stance as a passive investor gave way to a takeover bid when the company didn't perform as he'd hoped. • Ford stake: If Kerkorian is best known in Detroit for his failed takeover attempt of the old Chrysler in 1995 and his frustrated efforts to push GM into an alliance with Renault and Nissan Motor in 2006, he also played a part at the Blue Oval. In 2008, Kerkorian's Tracinda had built up a 6. 5% stake in Ford Motor But later in the year, Tracinda started selling off Ford. Source: www.usatoday.com
