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| Founded | 1976 |
|---|---|
| Founder | Kirk Kerkorian |
| Headquarters | |
Key people | Anthony Mandekic (President and CEO) |
Tracinda Corporation is an American private investment corporation that was owned by the deceased Kirk Kerkorian. Its major investments included a minority interest of MGM Resorts International. Tracinda is headquartered in Las Vegas, Nevada. The company was named after Kerkorian's daughters, Tracy and Linda.
Tracinda formerly owned ten percent of General Motors; it sold all of its stock in November 2006. [1]
Tracinda offered $4.5 billion to buy Chrysler on April 5, 2007, causing the shares of DaimlerChrysler to soar 5.3%. Ultimately, the bid failed and Chrysler was sold to Cerberus Capital Management.
Kerkorian also bid, unsuccessfully, in 1995 to take over Chrysler.
On May 16, 2008, Tracinda contacted Ford shareholders in a bid to buy 20,000,000 shares by June 4, 2008, at a rate of $8.50 a share. Later on, the bid was processed, and the company bought the shares through Ahmed Adnan, an investor.
On October 20, 2008, Tracinda sold more than 7 million shares of Ford at an average price of roughly $2.44 a share.
On December 29, 2008, Tracinda sold his remaining shares in Ford Motor Company.
In May 2009, following the completion of a $1 billion stock offering by MGM Mirage, Kerkorian and Tracinda lost their majority ownership of the gaming company, dropping from 53.8 percent to 39 percent and, even after pledging to purchase 10 percent of the new stock offering, they became minority owners. [2] [3]
Kerkor "Kirk" Kerkorian died on June 15, 2015, at the age of 98.
On September 16, 2019, MGM Resorts announced that Tracinda informed the company that it had disposed of its stake in the resort company following instructions left in Kerkorian's Will that upon his death Tracinda was supposed to dispose of its interest in the resort company in a timely manner. [4]
The Mercedes-Benz Group AG is a German multinational automotive corporation headquartered in Stuttgart, Baden-Württemberg, Germany. It is one of the world's leading car manufacturers. Daimler-Benz was formed with the merger of Benz & Cie., the world's oldest car company, and Daimler Motoren Gesellschaft in 1926. The company was renamed DaimlerChrysler upon the acquisition of American automobile manufacturer Chrysler Corporation in 1998, and was again renamed Daimler AG upon divestment of Chrysler in 2007. In 2021, Daimler AG was the second-largest German automaker and the sixth-largest worldwide by production. In February 2022, Daimler was renamed Mercedes-Benz Group as part of a transaction that spun-off its commercial vehicle segment as an independent company, Daimler Truck.
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