Analysts Say Kerkorian Not Done

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With the collapse of his bid to push General Motors Corp. into an alliance with two foreign automakers, Kirk Kerkorian has yet to reap a windfall on his investment in the automaker, which analysts said could drive him to seek ways to further lift the stock price, the Washington Post reports.


When talks between GM, Nissan Motor Co. and Renault SA began in July, Kerkorian’s 56 million GM shares were trading at $30 a share. Wednesday, when GM Chairman G. Richard Wagoner Jr. announced that discussions had ended, GM was only a little above $33 a share. Kerkorian’s gain was about $160 million. Analysts said that’s chump change for Kerkorian, No. 26 on Forbes magazine’s ranking of the richest Americans. Forbes estimated his worth at $9 billion.


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