Tuesday, Jun 28, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Automotive

Ford offering 300 million shares in public offering

NEW YORK Ford Motor Co. says it is launching a public offering of 300 million shares to help fund its retiree health care trust.

The Dearborn, Michigan, automaker announced the offering Monday. Ford remains the only U.S. automaker that has not received government aid.

Shares of Ford closed Monday at $6.08. At that price, the offering would net the company $1.82 billion, though public offerings often cause a stock's value to fall.

Ford says it will use the proceeds for general corporate purposes, including making payments to the Voluntary Employee Beneficiary Association, its union health care trust.

The company says it is granting the underwriters a 30-day option to purchase up to 45 million shares.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…