Under siege: Kirk Kerkorian and Chrysler.
Economist (US), The, April, 1995
Kirk Kerkorian, Chrysler's leading stockholder, has led a shareholder revolt against the company, asking for a dividend increase and share buyback program, among other demands. Chrysler partly acquiesced, as it has a very healthy bottom line, but its share price kept dropping.
STRANGE noises are always a worry for car owners. So when Chrysler began to hear a commotion from Kirk Kerkorian, its biggest single shareholder, last November, it knew it could be in trouble. On April 12th, its fears were confirmed. The elderly Las Vegas investor said that his Tracinda investment company intended to buy the 90% of Chrysler it does not already own. At $55 a share--a 40% premium over the previous day's closing price--the bid would value America's third-biggest car maker at close to...
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