Ford to Jag and Land Rover: Don't let the door hit you on the way out!
Ford's European boss, Lewis Booth, spoke in Frankfurt this week and told reporters that the company wants final bids by the end of September and the deal closed by the end of the year. According to Booth, Ford needs the cash and wants to rid itself of distractions from its core businesses. Evidently, it feels that keeping a stake might be no better than keeping the whole thing, and it would still ultimately be responsible for what happens to the two companies.
[Source: Detroit News]
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