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Kirk Kerkorian’s Tracinda Corp. wants to purchase a nearly 5 percent stake in General Motors for about $870 million
that would boost his stake to almost 9 percent. The news shot GM’s shares 9 percent higher in stock trading. You should
know Kerkorian’s name because he sued
DaimlerChrysler saying he was duped into believing in the “merger of equals”. GM has had no comment and Tracinda says
the purchase is for “investment purposes only.” Someone either believes in GM or is setting up for a future move.