WASHINGTON -- Financier Kirk Kerkorian, whose private investment company Tracinda Co. has made a tender offer for 28 million shares of General Motors stock, has been added as a signatory to the offer, according to a regulatory filing on Thursday.
Tracinda said it made the change at the request of the U.S. Securities and Exchange Commission and does not admit that Kerkorian is a co-bidder with Tracinda or has any obligation connected to the tender offer, other than as the controlling stockholder of Tracinda.
The tender offer would more than double Kerkorian's stake in GM to 8.8 percent.
Tracinda has offered to buy the 28 million shares for $31 per share, valuing the offer at $868 million.
Tracinda has said it wants to acquire the GM stock for investment purposes and does not currently have intentions to acquire or influence control of the automaker.