SC 13D 1 dsc13d.htm SCHEDULE 13D Schedule 13D

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

 

 

 

Ford Motor Company

(Name of Issuer)

 

 

Common Stock, par value $.01 per share

(Title of Class of Securities)

 

 

345370860

(CUSIP Number)

 

 

Richard Sobelle, Esq.

Tracinda Corporation

150 South Rodeo Drive, Suite 250

Beverly Hills, CA 90212

(310) 271-0638

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

 

June 13, 2008

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ¨

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

*

  

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 345370860

 

  1.  

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).

 

Tracinda Corporation

    
  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  ¨

    
  3.  

SEC Use Only

 

    
  4.  

Source of Funds (See Instructions)

 

BK, WC

    
  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

   ¨
  6.  

Citizenship or Place of Organization

 

Nevada

    

Number of  

Shares  

Beneficially  

Owned by  

Each  

Reporting  

Person  

With  

  

  7.    Sole Voting Power

 

        140,800,000

 

  8.    Shared Voting Power

 

 

  9.    Sole Dispositive Power

 

        140,800,000

 

10.    Shared Dispositive Power

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

140,800,000

    
12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

   ¨
13.  

Percent of Class Represented by Amount in Row (11)

 

6.49%*

    
14.  

Type of Reporting Person (See Instructions)

 

CO

    

 

* Percentage calculated on the basis of 2,171,147,986 shares of common stock issued and outstanding as of May 1, 2008, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2008.

 

2

CUSIP No. 345370860

 

  1.  

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).

 

Kirk Kerkorian

    
  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  ¨

    
  3.  

SEC Use Only

 

    
  4.  

Source of Funds (See Instructions)

 

N/A

    
  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

   ¨
  6.  

Citizenship or Place of Organization

 

United States

    

Number of  

Shares  

Beneficially  

Owned by  

Each  

Reporting  

Person  

With  

  

  7.    Sole Voting Power

 

        140,800,000

 

  8.    Shared Voting Power

 

 

  9.    Sole Dispositive Power

 

        140,800,000

 

10.    Shared Dispositive Power

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

140,800,000

    
12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

   ¨
13.  

Percent of Class Represented by Amount in Row (11)

 

6.49%*

    
14.  

Type of Reporting Person (See Instructions)

 

IN

    

 

* Percentage calculated on the basis of 2,171,147,986 shares of common stock issued and outstanding as of May 1, 2008, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2008.

 

3

Item 1. Security and Issuer

This Schedule 13D relates to the common stock, par value $.01 per share, of Ford Motor Company, a Delaware corporation (the “Issuer”), which has its principal executive offices at One American Road, Dearborn, Michigan 48126.

 

Item 2. Identity and Background

This Schedule is being filed on behalf of Kirk Kerkorian and Tracinda Corporation (“Tracinda”), a Nevada corporation wholly owned by Mr. Kerkorian (collectively, the “Filing Persons”). Tracinda is principally engaged in the business of buying, selling and holding selected equity securities.

The principal business address for Tracinda is 150 South Rodeo Drive, Suite 250, Beverly Hills, California 90212. During the past five years, Tracinda (i) has not been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors), and (ii) has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(a)    Mr. Kerkorian is the Chief Executive Officer, President and sole director of Tracinda. Tracinda’s other executive officer is Anthony L. Mandekic.

(b)    Mr. Kerkorian’s and Mr. Mandekic’s business address is 150 South Rodeo Drive, Suite 250, Beverly Hills, California 90212.

(c)    Mr. Kerkorian’s principal occupation or employment is, and has been for more than five years, serving as Tracinda’s principal executive officer. In addition, Mr. Kerkorian is a director of MGM MIRAGE, a Delaware corporation principally engaged in the lodging and gaming business. Mr. Kerkorian beneficially owns, through Tracinda, 148,837,330 shares of common stock of MGM MIRAGE or approximately 53.9% of such outstanding common stock. MGM MIRAGE has its principal executive offices at 3600 Las Vegas Boulevard South, Las Vegas, Nevada 89109. Mr. Kerkorian also beneficially owns, through Tracinda, 36,128,000 shares of common stock of Delta Petroleum Corporation, a Delaware corporation, or approximately 35.2% of such outstanding common stock. Delta Petroleum Corporation is an independent energy company engaged in the exploration for, and the acquisition, development, and production of, natural gas and crude oil. Delta Petroleum Corporation has its principal executive offices at 370 Seventeenth Street, Suite 4300, Denver, Colorado 80202.

Mr. Mandekic’s principal occupation or employment is, and has been for more than five years, serving as Secretary and Treasurer of Tracinda. Mr. Mandekic is also a director of MGM MIRAGE, and serves as the chair of its compensation committee.

(d) – (e)    During the last five years, neither Mr. Kerkorian nor Mr. Mandekic (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)    Mr. Kerkorian and Mr. Mandekic are both United States citizens.

 

4

Item 3. Source and Amount of Funds or Other Consideration

The aggregate purchase price of approximately $1 billion (including estimated expenses) for the 140,800,000 shares of common stock (the “shares”) beneficially owned by the Filing Persons was funded from cash on hand and borrowings under the bank financing described below.

Tracinda entered into a credit agreement (the “Credit Agreement”), dated April 15, 2008 and amended on May 21, 2008 and June 16, 2008, for a $600 million revolving credit facility with Bank of America, N.A. (“BOA”), as agent, and Bank of America Securities LLC as the sole lead arranger and sole and exclusive book manager. At Tracinda’s option, borrowings under the revolving credit facility will bear interest at either 0.25% above the prime rate announced from time to time by BOA or 1.50% above LIBOR, and will mature on April 15, 2011. Tracinda also entered into a pledge agreement (the “Pledge Agreement”) and a custody agreement (the “Custody Agreement”) with Bank of America, N.A. for the pledge of collateral for borrowings under the credit facility. All 140.8 million shares of the Issuer beneficially owned by the Filing Persons have been pledged under the Pledge Agreement as collateral for borrowings under the credit facility. After April 15, 2009, if the amount of the outstanding borrowings under the credit facility exceeds a determined percentage of the market value of all collateral pledged under the pledge agreement (the “Pledged Collateral”), Tracinda will be required to prepay such excess amount or pledge additional collateral. In addition, prior to borrowing an aggregate amount equal to or in excess of $300 million, Tracinda will be required to pledge additional collateral such that the aggregate amount to be borrowed does not exceed a predetermined percentage of the market value of all Pledged Collateral. Pursuant to the Pledge Agreement, all dividends paid on the Pledged Collateral in the form of capital stock will be pledged as additional collateral and, in the event of a default under the Credit Agreement, all voting rights and rights to receive dividends with respect to the Pledged Collateral will become vested in BOA. In connection with the Pledge Agreement, BOA was appointed as the proxyholder for all Pledged Collateral, with the right to exercise all voting rights with respect to such Pledged Collateral only when an event of default has occurred and is continuing under the Credit Agreement. Upon an event of default under the Credit Agreement, BOA has the right, among others, to transfer all Pledged Collateral into its name or to sell or dispose of such Pledged Collateral. The Credit Agreement, the Pledge Agreement, and the Custody Agreement contain customary representations, warranties, covenants and conditions. The foregoing description of the Pledge Agreement, the Credit Agreement, and the Custody Agreement is qualified in its entirety by references to the Pledge Agreement, the Credit Agreement, including the amendments thereto, and the Custody Agreement attached hereto as Exhibits 1, 2, 3, 4, and 5 and incorporated herein by reference.

 

Item 4. Purpose of Transaction

The Filing Persons acquired their shares for investment purposes. Depending on the continuing evaluation by the Filing Persons of the business and prospects for the Issuer and other factors, including business and market conditions, the Filing Persons may, from time to time, propose business strategies. The Filing Persons have explored, and may continue to explore, the possible infusion of additional capital into the Issuer in order to give the Issuer more flexibility in implementing its turnaround process. In addition, the Filing Persons reserve the right, should they determine to do so at any time after the date of this filing, to take such actions with respect to their holdings in the Issuer as they deem appropriate in light of the circumstances existing from time to time. Such actions may include: continuing to hold their shares; disposing of some or all of their shares in the open market or otherwise; or acquiring additional shares in the open market or otherwise. Other than as set forth in this Item 4, the Filing Persons do not have any current plans or proposals that relate to or would result in any of the matters referred to in paragraphs (a) through (j) of Item 4 of Schedule 13D.

 

Item 5. Interest in Securities of the Issuer

(a) – (b)    The following table sets forth information with respect to the shares beneficially owned by each person or entity named in Item 2 hereof. Mr. Kerkorian has sole voting and investment power with respect to the shares held by the Filing Persons.

 

5

Name

    Number of Shares    Percent of Outstanding(1)  

Tracinda Corporation

    140,800,000    6.49 %

Kirk Kerkorian

    140,800,000    6.49 %

Anthony L. Mandekic

    —      —    

 

  (1) Percentage calculated on the basis of 2,171,147,986 shares of common stock issued and outstanding as of May 1, 2008, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2008.

(c)    The table included in Appendix A sets forth transactions in shares by Filing Persons during the past 60 days. Other than the acceptance for purchase by Tracinda on June 13, 2008 of 20,000,000 shares pursuant to Tracinda’s tender offer that expired on June 9, 2008, all such transactions were purchases effected by Tracinda in the open market.

(d)    Except as described in Item 3 above, no person other than the Filing Persons has the right to receive or power to direct the receipt of dividends from, or the proceeds of, the sale of any of the shares.

(e)    Not applicable.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Except as described in Item 3 above, there are no contracts, arrangements, understanding or relationships (legal or otherwise) among the persons named in Item 2 hereof and between such persons and any other person with respect to any securities of the Issuer, including but not limited to transfer or voting of any such securities, finder’s fees, joint ventures, loan or option arrangements, put or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

 

Item 7. Material to Be Filed as Exhibits

 

Exhibit No.

   

Description

1.    Pledge Agreement, dated April 15, 2008. (1)
2.    Revolving Credit Facility Letter Agreement, dated April 15, 2008. (2)
3.    First Amendment to Revolving Credit Facility Letter Agreement, dated May 21, 2008. (2)
4.    Second Amendment to Revolving Credit Facility Letter Agreement, dated June 16, 2008.
5.    Custody Agreement, dated April 15, 2008 (3)
6.    Power of Attorney dated May 9, 2008. (4)

 

  (1) Incorporated by reference to Exhibit (b)(2) to the Filing Persons’ Schedule TO-T filed with the Securities and Exchange Commission on May 9, 2008 (the “Schedule TO”).

 

  (2) Incorporated by reference to Exhibit (b)(1) or (b)(4), as applicable, to Amendment No. 1 to the Schedule TO filed with the Securities and Exchange Commission on May 23, 2008.
  (3) Incorporated by reference to Exhibit (b)(3) to the Schedule TO.

 

  (4) Incorporated by reference to Exhibit (i) to the Schedule TO.

 

6

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

June 19, 2008

 

TRACINDA CORPORATION
By:   /s/ Anthony L. Mandekic
 

Anthony L. Mandekic

Secretary/Treasurer

KIRK KERKORIAN
By:   /s/ Anthony L. Mandekic
 

Anthony L. Mandekic

Attorney-in-Fact *

 

* Power of Attorney dated May 9, 2008,

filed as Exhibit (i) to the Schedule TO of Tracinda

Corporation and Kirk Kerkorian on May 9, 2008.

 

7

Appendix A

The following table sets forth transactions in the Issuer’s shares by the Filing Persons during the last 60 days. Except for the acceptance by Tracinda on June 13, 2008 of 20,000,000 shares for purchase pursuant to Tracinda’s tender offer that expired on June 9, 2008, all transactions were purchases effected by Tracinda in the open market.

 

Date

    No. of Shares    Price per share

4/21/2008

    195,406    $ 7.5200

4/21/2008

    206,139      7.5300

4/21/2008

    149,331      7.5400

4/21/2008

    126,626      7.5500

4/21/2008

    68,100      7.5600

4/21/2008

    5,700      7.5675

4/21/2008

    18,100      7.5700

4/21/2008

    79,603      7.5775

4/21/2008

    744,215      7.5800

6/13/2008

    20,000,000      8.5000

6/16/2008

    28,400      6.5500

6/16/2008

    84,700      6.5400

6/16/2008

    257,281      6.5300

6/16/2008

    681,726      6.5200

6/16/2008

    164,707      6.5165

6/16/2008

    700,804      6.5100

6/16/2008

    92,545      6.5000

6/16/2008

    47,700      6.4900

6/16/2008

    157,200      6.4800

6/16/2008

    335,424      6.4700

6/16/2008

    100      6.4650

6/16/2008

    465,139      6.4600

6/16/2008

    100      6.4575

6/16/2008

    100      6.4550

6/16/2008

    465,800      6.4500

6/16/2008

    100      6.4475

6/16/2008

    500      6.4450

6/16/2008

    344,685      6.4400

6/16/2008

    1,300      6.4350

6/16/2008

    854,693      6.4300

6/16/2008

    1,100      6.4250

6/16/2008

    319,933      6.4200

6/16/2008

    118,869      6.4100

6/16/2008

    7,100      6.4000

6/16/2008

    120,169      6.3900

6/16/2008

    154,972      6.3800

6/16/2008

    1,000      6.3775

6/16/2008

    3,800      6.3700

6/16/2008

    42,600      6.3600

6/16/2008

    12,500      6.3500

 

8

6/16/2008

    57,200    6.3400

6/16/2008

    154,390    6.3300

6/16/2008

    173,900    6.3200

6/16/2008

    59,669    6.3100

6/16/2008

    191,450    6.3000

6/16/2008

    67,700    6.2900

6/16/2008

    19,000    6.2800

6/16/2008

    30,100    6.2700

6/16/2008

    100,000    6.2600

6/16/2008

    170,844    6.2500

6/16/2008

    1,000    6.2450

6/16/2008

    9,700    6.2400

6/17/2008

    38,600    6.7500

6/17/2008

    204,500    6.7400

6/17/2008

    100,000    6.7350

6/17/2008

    100,000    6.7310

6/17/2008

    455,100    6.7300

6/17/2008

    7,300    6.7275

6/17/2008

    50,000    6.7260

6/17/2008

    322,017    6.7200

6/17/2008

    1,000    6.7175

6/17/2008

    129,900    6.7100

6/17/2008

    900    6.7075

6/17/2008

    600    6.7050

6/17/2008

    280,000    6.7000

6/17/2008

    100,500    6.6950

6/17/2008

    98,900    6.6900

6/17/2008

    142,500    6.6800

6/17/2008

    300    6.6775

6/17/2008

    215,400    6.6700

6/17/2008

    100    6.6650

6/17/2008

    848,802    6.6600

6/17/2008

    50,000    6.6550

6/17/2008

    295,300    6.6500

6/17/2008

    50,000    6.6450

6/17/2008

    100,880    6.6400

6/17/2008

    227,450    6.6300

6/17/2008

    150,000    6.6252

6/17/2008

    370,782    6.6200

6/17/2008

    123,800    6.6189

6/17/2008

    100    6.6150

6/17/2008

    576,805    6.6100

6/17/2008

    50,000    6.6071

6/17/2008

    1,700    6.6050

6/17/2008

    50,000    6.6045

6/17/2008

    50,000    6.6002

6/17/2008

    573,645    6.6000

6/17/2008

    935    6.5957

6/17/2008

    13,800    6.5950

6/17/2008

    50,000    6.5938

 

9

6/17/2008

    25,000    6.5933

6/17/2008

    1,233    6.5919

6/17/2008

    100,000    6.5915

6/17/2008

    324,600    6.5900

6/17/2008

    200    6.5850

6/17/2008

    353,483    6.5800

6/17/2008

    50,000    6.5784

6/17/2008

    25,000    6.5734

6/17/2008

    201,595    6.5700

6/17/2008

    258,605    6.5600

6/17/2008

    50,300    6.5550

6/17/2008

    50,000    6.5549

6/17/2008

    217,724    6.5500

6/17/2008

    50,900    6.5450

6/17/2008

    50,000    6.5421

6/17/2008

    127,400    6.5400

6/17/2008

    25,000    6.5359

6/17/2008

    150,000    6.5346

6/17/2008

    172,176    6.5300

6/17/2008

    100    6.5250

6/17/2008

    35,068    6.5200

6/18/2008

    7,300    6.1000

6/18/2008

    700    6.1050

6/18/2008

    26,100    6.1100

6/18/2008

    1,900    6.1150

6/18/2008

    44,600    6.1200

6/18/2008

    100    6.1250

6/18/2008

    204,500    6.1300

6/18/2008

    2,100    6.1375

6/18/2008

    277,200    6.1400

6/18/2008

    700    6.1450

6/18/2008

    1,700    6.1475

6/18/2008

    261,906    6.1500

6/18/2008

    1,000    6.1550

6/18/2008

    118,299    6.1600

6/18/2008

    20,600    6.1700

6/18/2008

    11,900    6.1800

6/18/2008

    36,000    6.1900

6/18/2008

    156,600    6.2000

6/18/2008

    300    6.2050

6/18/2008

    100,000    6.2072

6/18/2008

    163,100    6.2100

6/18/2008

    7,200    6.2150

6/18/2008

    3,100    6.2175

6/18/2008

    321,394    6.2200

6/18/2008

    1,600    6.2250

6/18/2008

    100,000    6.2274

6/18/2008

    50,000    6.2299

6/18/2008

    470,719    6.2300

6/18/2008

    1,000    6.2350

 

10

6/18/2008

    51,300    6.2375

6/18/2008

    420,103    6.2400

6/18/2008

    50,000    6.2421

6/18/2008

    50,000    6.2434

6/18/2008

    500    6.2450

6/18/2008

    1,600    6.2475

6/18/2008

    307,103    6.2500

6/18/2008

    37,519    6.2518

6/18/2008

    126,591    6.2600

6/18/2008

    600    6.2650

6/18/2008

    600    6.2675

6/18/2008

    201,192    6.2700

6/18/2008

    2,000    6.2750

6/18/2008

    367,466    6.2800

6/18/2008

    100,000    6.2825

6/18/2008

    1,500    6.2850

6/18/2008

    393,500    6.2900

6/18/2008

    900    6.2950

6/18/2008

    300    6.2975

6/18/2008

    347,391    6.3000

6/18/2008

    100,300    6.3050

6/18/2008

    107,100    6.3100

6/18/2008

    1,600    6.3150

6/18/2008

    100    6.3175

6/18/2008

    107,341    6.3200

6/18/2008

    4,000    6.3250

6/18/2008

    200    6.3275

6/18/2008

    164,600    6.3300

6/18/2008

    67,534    6.3400

6/18/2008

    111,800    6.3500

6/18/2008

    200    6.3550

6/18/2008

    1,500    6.3575

6/18/2008

    115,166    6.3600

6/18/2008

    1,800    6.3650

6/18/2008

    4,100    6.3675

6/18/2008

    67,700    6.3700

6/18/2008

    200    6.3750

6/18/2008

    1,600    6.3775

6/18/2008

    68,200    6.3800

6/18/2008

    3,800    6.4050

6/18/2008

    60,476    6.4100

6/18/2008

    14,853    6.4200

6/18/2008

    100    6.4250

6/18/2008

    40,000    6.4300

6/18/2008

    4,600    6.4400

6/18/2008

    37,203    6.4500

6/18/2008

    7,200    6.4550

6/18/2008

    700    6.4575

6/18/2008

    101,144    6.4600

6/18/2008

    200    6.4650

6/18/2008

    25,214    6.4700

6/18/2008

    100    6.4750

6/18/2008

    66,683    6.4800

6/18/2008

    35,903    6.4900

6/18/2008

    25,000    6.4956

 

11

EXHIBIT INDEX

 

Exhibit No.

   

Description

1.    Pledge Agreement, dated April 15, 2008. (1)
2.    Revolving Credit Facility Letter Agreement, dated April 15, 2008. (2)
3.    First Amendment to Revolving Credit Facility Letter Agreement, dated May 21, 2008. (2)
4.    Second Amendment to Revolving Credit Facility Letter Agreement, dated June 16, 2008.
5.    Custody Agreement, dated April 15, 2008 (3)
6.    Power of Attorney dated May 9, 2008. (4)

 

(1) Incorporated by reference to Exhibit (b)(2) to the Filing Persons’ Schedule TO-T filed with the Securities and Exchange Commission on May 9, 2008 (the “Schedule TO”).

 

(2) Incorporated by reference to Exhibit (b)(1) or (b)(4), as applicable, to Amendment No. 1 to the Schedule TO filed with the Securities and Exchange Commission on May 23, 2008.

 

(3) Incorporated by reference to Exhibit (b)(3) to the Schedule TO.

 

(4) Incorporated by reference to Exhibit (i) to the Schedule TO.

 

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