Posted by C. Garbee on November 02, 1999 at 22:48:24:
In Reply to: Re: DIDN'T FORD BOUGHT CUMMINS???????? posted by C. Garbee on November 02, 1999 at 22:23:24:
From the Cummins website: Dateline, January 1997:
"The company also announced that it has repurchased 1.3 million
shares of its common stock from Ford Motor Company and has
authorized the repurchase of an additional 1.7 million shares in
the open market. In accordance with the terms of the
company's 1990 investment agreement with Ford, Kenneth R.
Dabrowski, a Ford vice president who has recently served on
the Cummins Board of Directors under the terms of the
investment agreement has resigned, effective with the
repurchase. Following the repurchase from Ford, the company
has approximately 38.2 million shares outstanding."