Ford plans sale of 300 million shares to fund portion of healthcare trust
Los Angeles Times, May 12, 2009
Ford has announced plans to sell 300 million new shares, and the company said proceeds from the offering would be used to fund a portion of the payments it owes to the United Auto Workers' retiree healthcare trust. In February, Ford negotiated a deal with the UAW that let it pay in stock as much as half the $13.6 billion it owes the retiree healthcare fund.
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