Ford, not surprisingly, does not endorse Baker Mills’ unsolicited offer. Ford recommends against shareholders tendering their shares in response to Baker Mills’ offer because it’s priced below the current market price of Ford common stock.
Ford Motor Company received notice of an unsolicited mini-tender offer by Baker Mills LLC, a Delaware limited liability company, to purchase up to 400,000 shares of common stock, par value $0.01 per share, of Ford, representing approximately 0.010% of the company’s outstanding common stock.
Mini-tender offers seek less than 5% of a company’s stock and are not subject to some of the investor protections of larger tender offers and requirements of the U.S. Securities and Exchange Commission (SEC).
Baker Mills’ offer price of $7.00 per share in cash is approximately ~17.84% lower than the $8.52 closing price of Ford common stock on Dec. 14, 2018, the last closing price prior to commencement of the offer. The markets are closed today.
Ford, not surprisingly, does not endorse Baker Mills’ unsolicited offer. Ford recommends against shareholders tendering their shares in response to Baker Mills’ offer because it’s priced below the current market price of Ford common stock.
Ford is not affiliated or associated in any way with Baker Mills, its mini-tender offer, or the mini-tender offer documentation.
Ford urges shareholders to obtain current market quotations for their shares, to consult with their broker or financial advisor, and to exercise caution with respect to Baker Mills’ mini-tender offer.
Ford shareholders who already have tendered may withdraw their shares prior to the expiration of the offer, currently scheduled for 5 p.m. ET on Wednesday, Jan. 16, 2019. Ford recommends shareholders who have not responded to Baker Mills’ offer take no action.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Corporate Raiders After Ford Motor Stock at Deep Discount
Ford, not surprisingly, does not endorse Baker Mills’ unsolicited offer. Ford recommends against shareholders tendering their shares in response to Baker Mills’ offer because it’s priced below the current market price of Ford common stock.
Ford Motor Company received notice of an unsolicited mini-tender offer by Baker Mills LLC, a Delaware limited liability company, to purchase up to 400,000 shares of common stock, par value $0.01 per share, of Ford, representing approximately 0.010% of the company’s outstanding common stock.
Mini-tender offers seek less than 5% of a company’s stock and are not subject to some of the investor protections of larger tender offers and requirements of the U.S. Securities and Exchange Commission (SEC).
Baker Mills’ offer price of $7.00 per share in cash is approximately ~17.84% lower than the $8.52 closing price of Ford common stock on Dec. 14, 2018, the last closing price prior to commencement of the offer. The markets are closed today.
Ford, not surprisingly, does not endorse Baker Mills’ unsolicited offer. Ford recommends against shareholders tendering their shares in response to Baker Mills’ offer because it’s priced below the current market price of Ford common stock.
Ford is not affiliated or associated in any way with Baker Mills, its mini-tender offer, or the mini-tender offer documentation.
Ford urges shareholders to obtain current market quotations for their shares, to consult with their broker or financial advisor, and to exercise caution with respect to Baker Mills’ mini-tender offer.
Ford shareholders who already have tendered may withdraw their shares prior to the expiration of the offer, currently scheduled for 5 p.m. ET on Wednesday, Jan. 16, 2019. Ford recommends shareholders who have not responded to Baker Mills’ offer take no action.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.